2010 Part B Premium Amounts for Persons with Higher Income Levels
Posted Apr.01, 2010 in Medicare, Tips & FAQ
The following information is from Medicare.gov.
Question: 2010 Part B Premium Amounts for Persons with Higher Income Levels
Answer: Most Medicare beneficiaries will continue to pay the same $96.40 Part B premium amount in 2010. Beneficiaries who currently have the Social Security Administration (SSA) withhold their Part B premium and have incomes of $85,000 or less ($170,000 or less for joint filers) will not have an increase in their Part B premium for 2010.
For all others, the standard Medicare Part B monthly premium will be $110.50 in 2010, which is a 15% increase over the 2009 premium. The Medicare Part B premium is increasing in 2010 due to possible increases in Part B costs. If your income is above $85,000 (single) or $170,000 (married couple), then your Medicare Part B premium may be higher than $110.50 per month.
Social Security will use the income reported two years ago on your IRS income tax return to determine your premium (if unavailable, SSA will use income from three years ago). For example, the income reported on your 2008 tax return will be used to determine your monthly Part B premium in 2010. If your income has decreased since 2008, you can ask that the income from a more recent tax year be used to determine your premium, but you must meet certain criteria.
The chart below shows the Part B monthly premium amounts based on income. These amounts change each year. There may be a late-enrollment penalty.
|
Table 1: Part B Monthly Premium |
||
|
Beneficiaries who file an individual tax return with income |
Beneficiaries who file a joint tax return with income |
|
|
Your 2010 Part B Monthly Premium Is |
If Your Yearly Income Is |
|
|
$96.40 if beneficiary has SSA withhold in 2009 $110.50 for all others |
$85,000 or less |
$170,000 or less |
|
$154.70 (increased by $44.20 due to IRMAA) |
$85,001-$107,000 |
$170,001-$214,000 |
|
$221.00 (increased by $110.50 due to IRMAA) |
$107,001-$160,000 |
$214,001-$320,000 |
|
$287.30 (increased by $176.80 due to IRMAA) |
$160,001-$214,000 |
$320,001-$428,000 |
|
$353.60 (increased by $243.10 due to IRMAA) |
Above $214,000 |
Above $428,000 |
