On Friday Medicare announced the Part B rates that most Medicare enrollees will be responsible for paying in 2020. Effective January 1, 2020 the standard monthly premium for Medicare Part B enrollees will be $144.60. This represents an increase of $9.10 from the $135.50 enrollees paid in 2019.
Starting in 2007, a beneficiary’s Part B monthly premium has been based on income. Income-related monthly adjustment amounts (IRMAA) affect approximately 7 percent of all Medicare beneficiaries. The 2020 Part B premium levels adjusted for income as well as the Part D (Prescription Drug Plan) are shown in the following tables:
2020 Medicare Part B Income-Related Monthly Adjustment Amounts
Part D (Prescription Drug Plans) IRMAA in 2020
And, If your modified adjusted gross income is above a certain amount, you may also pay a Part D income-related monthly adjustment amount (Part D IRMAA). Those amounts for 2020 are listed below.