For the part of the population that does not pay the higher premium amounts, Medicare pays approximately 75% of the cost of the Medicare Part B premium. 00 $91,000. Preventive services: Health care to prevent illness (like the flu) or detect it at an early stage, when treatment is most likely to work best. It can be $76. 44% estimated MA risk score trend included in the 2024 Rate Announcement Fact Sheet is calculated using a blend of 67% of the MA risk score trend calculated with the current model (the 2020 model, 5. TTY users can call 1-800-325-0778. Retirement is a Life Changing Event that allows a person to consider appealing their IRMAA. It’s the premium surcharge that people with higher incomes pay for Medicare. In effect, IRMAA reduces the subsidy that high-income beneficiaries receive from Medicare. 60 in 2020. Unlike Medicare Part B, which is standardized by the federal government, Part D plans are sold by private insurance companies, so monthly premiums can vary between plans and providers. The standard monthly premium for Medicare Part B enrollees will be $174. 80 from $164. IRMAA is an extra fee that you pay on top of your Medicare Part B and D rates if you earn above a certain threshold. The surcharge you pay in year N+2 is based on your AGI in year N, but will be the year N+2 amount. Don’t assume nonqualified accounts should be used first in a liquidation order strategy. 90 next year, down from $170. 90 this year. Medicare Information FAQs. The Centers for Medicare & Medicaid Services (CMS) released the premiums, deductibles, and coinsurance rates for the Part A and B programs, as well as the Part D income-related monthly adjustment amounts (IRMAA) for 2024 premiums. The standard monthly premium for Medicare Part B enrollees will be $174. 5 – Failure to Pay Part D-Income Related Monthly Adjustment Amount (Part D-IRMAA)50. You’ll also have to pay. 90 (2023). 70 , an increase of nearly $10 a month. Most people pay the standard Part B monthly premium amount ($174. Estimate my Medicare eligibility & premium. Monthly Part B premiums for those hit with an IRMAA will range from $238. 70 per month in 2022 under CRS estimates, and $234. 00 $238. 2024 IRMAA Updates: The standard Medicare Part B premium is set at $174. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. According to latest Medicare Board of Trustees report from the IRMAA brackets will increase by over 6. For 2024, the Part B premium is $174. The typical person on Medicare will pay at least $289 more in 2022, just for Part B coverage, and double that to $578 for a couple. )In 2023, surcharges for Medicare Part B range from an extra $65. 80 from. 80 from $164. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. 8% from $56. 2023 2024 2025 Medicare Part B IRMAA Premium MAGI Brackets. 70 per month. Income Threshold for. Beneficiaries that. 70 in 2024. The average Part D premium is around $55. 90 in 2023 to $174. Learn about the "Reassignment Notice — Plan Termination," which Social Security sends you if you're in a higher-income household. Original Medicare Part B and Part D include base monthly premium amounts that all beneficiaries pay. 70 for 2024, an increase of $9. 60-per-month, or an additional $463 annually. 90 in 2023. When a person makes more than the allowed income amount, Medicare may add an IRMAA to the Part B premium, Part D premium, or both. 90 per month for those in the lowest income-adjustment bracket. A popular pre-retirement accumulation strategy is to defer. to FEP members with Medicare Part A and/or Part B. Oct, 07 2023 — An analysis of 2024 Medicare Advantage plan data shows that there will be 0. 2024 Medicare Part D IRMAA. In 2024, we’re offering a new . Expect to see Medicare grow slightly more expensive following last year’s unusual price drop. 2024, must be processed in accordance with the revised requirements, including new. The Centers for Medicare & Medicaid Services (CMS) has released its Advance Notice of Methodological Changes for Calendar Year (CY) 2024 for Medicare Advantage (MA) Capitation Rates and Part C and Part D Payment Policies that would update program policies for Medicare Advantage and Medicare Part D beginning in. 2024 IRMAA Brackets and Rules. 90 in 2023 to $174. 9% increase for the 2022 premium. Here’s how it works. Drugs and Biological Products Paid Under Medicare Part B; 1. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. 50. 80 IRMAA surcharge) Medicare Part D Premium: $31. The standard monthly premium for Medicare Part B enrollees will be $174. According to Social Security. 135(d), states are permitted to request HHS approval for statespecific datasets for use as the standard population to calculate AV. Because an IRMAA is based on the income. By: Kevin Lilley. The standard monthly premium for Medicare Part B enrollees will be $174. Hearing. The 2023 IRMAA surcharge for Part B can cost $395. , Monday Friday, or call your local o ce You must continue paying your Medicare Part. Medicare Part B enrollees faced one of the most significant premium increases ever between 2021 and 2022. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. 10 to $578. July 31, 2023 announcement of 2024 Part D National Average Monthly Bid Amount, Medicare Part D Base Beneficiary Premium, Part D Regional Low-Income Premium Subsidy Amounts, Medicare Advantage Regional Benchmarks, and Income Related. A 40% surcharge on the Medicare Part B premium is about $840/year per person or about $1,700/year for a married couple both on Medicare. We protect. COMP +0. Part B premium table adjusted by IRMAAIn addition to the soon-to-be released premiums and cost sharing information for 2023 Medicare Advantage and Part D plans, the Fee-for-Service Medicare premiums and cost sharing information released today will enable people with Medicare to understand their Medicare coverage options for the year ahead. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. Part B premiums are expected to increase 6. 90 in 2023. [2024]. Learn more about what people with Medicare Part D will pay for their prescription drug plans in 2024. The increased premium over the based amount is called IRMAA and stands for Income-Related Monthly Adjustment Amount . The 2024 IRMAA MAGI income limits are straightforward: $103,000 for individuals and $206,000. Across the country, the total number of 2024 Medicare Advantage plans will increase to 5,377, as compared to 5,369 plans in 2023. 60 and $594. In 2024, we’re offering a new . The annual deductible for all Medicare Part B beneficiaries will be $240 in. begins once you reach your Medicare Part D plan’s initial coverage limit ($5,030 in 2024) and ends when you spend a total of $8,000 out-of-pocket in 2024. 90 in 2023. The annual deductible for all Medicare Part B beneficiaries will be $240 in. IF YOU’RE IN YOUR 60s or older and making sizable Roth conversions, it isn’t just income taxes that you need to worry about. [1] In effect, IRMAA reduces the subsidy that high-income beneficiaries receive from Medicare. IRMAA is an additional fee that certain high-income individuals and couples must pay on top of their regular Medicare Part B and Part D premiums. For 2024, the Part B premium is $174. The Medicare Board of Trustees estimated the Medicare Part B premium for 2024 could be $174. In 2022, the standard Part B premium is $170. 90 in 2023. 70, increasing by about $9 from the previous year. 70. The standard Part B monthly premium will drop to $164. 00 a month to $135. 90 in 2023. 5%. For incomes that are subject to IRMAA, the . 70. 90 in 2023. 70 in 2024, a $9. Call Now for Help! 1-888-891-0229. The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an amount you may pay in addition to your Part B or Part D premium if your income is above a certain level. A different Alzheimer’s medication, Aduhelm, was part of. 2024 Medicare Advantage ratebook and Prescription Drug rate information. The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an amount you may pay in addition to your Part B or Part D premium if your income is above a certain level. 80 increase from this year, the Centers for Medicare & Medicaid Services (CMS) announced Oct. Premiums vary depending on a beneficiary’s income. The annual deductible for all Medicare Part B beneficiaries will be $240 in. You have to have Part B to be enrolled in a Medigap plan. Higher-income individuals will face additional charges based on their income levels and tax filing status. Because the 2024 income-adjusted rates are based on 2022 tax records, they may not accurately reflect the financial. In 2024, the Part B deductible is $240. 50, though. 30 each, a combined amount of $1,156. 2024 IRMAA Brackets. 50, though this varies based on individual plans. 2. no added premium cost. Standard Part B premiums are increasing by just under $10/month for 2024, so the hold harmless provision will once again be non-applicable in nearly all cases. 80 from $164. The CMS calculates the IRMAA. Make check/money order payable to: CMS Medicare Insurance Send payment to: MEDICARE PREMIUM COLLECTION CENTER. September 28, 2022. Medicare Part B Premium and DeductibleFor 2023, the Medicare Premium Surcharge, based on 2021 tax filings, can be as much as $395. Those who have incomes above $88,000 per year pay more for their Medicare Part B premiums as well as any Part D (prescription drug coverage) premiums through the Income-Related Monthly Adjustment. What Is Medicare Part B? Medicare Part B is one of the two main sections of Original Medicare. Medicare Part B covers various outpatient services, including doctors, outpatient care, medical services such as physical and occupational therapy, and some home. That full table is presented next. In other words, the highest earners could end. 70, an increase of $9. 10). Usually, the split between SSA and you is 75 percent/25 percent. Dental insurance. Since CMS is finalizing a phase in of the 2024 model, the 4. The standard Medicare Part B premium is $174. gov IRMAA brackets are “a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. In this post, we’ll. If you don't see your situation, contact Social Security (or the Railroad Retirement Board if you get railroad benefits) to learn more about your specific eligibility or premium. 00. If your income is above a certain limit ($97,000 if you file individually or $194,000 if you’re married and file jointly) (in 2024, $103,000 if you file individually or $206,000 if you’re married and file jointly), you’ll pay an extra amount in addition to your plan premium (sometimes called “Part D-IRMAA”). Complete breakdown of income thresholds and the corresponding premium amounts in the chart below. The standard monthly premium for Medicare Part B enrollees will be $174. Medicare premiums. Add to that amount the IRMAA surcharge amount for Medicare Part D drug coverage. 80 from $164. The . 70 in 2024, an increase of $9. 90 in 2023. Parts B and D have monthly premiums. We live in a world where taxable income is more important than gross income because it dictates our income tax bracket. Married Submitting Individually >= $403,000. 00. 20 for couples. The Social Security Administration (SSA) makes initial determinations whether the income-related monthly adjustment amount (IRMAA) applies to Medicare beneficiaries with Part B, or Medicare prescription drug coverage (or both if enrolled in both at the time a determination is. Learn About Medicare Part B Premium 2024 - What changes are there, Role of Modified Adjusted Gross Income on Part B and How to Calculated It. This is a prescription drug beneft offered at . Limitations and exclusions may apply. 10/month in 2022 to $164. The increase in the 2024 Part B standard premium and deductible is. $0 premium plans. you’ll receive an IRMAA and pay additional costs for Part B and Part D coverage. Medicare Advantage Plans (Part C) & Medicare Drug Coverage (Part D) PremiumsYou'll get this notice if you have Medicare Part B and/or Part D and Social Security determines that any Income Related Monthly Adjustment Amounts (IRMAA) apply to you. The surcharge ranged as high as $408. Medicare Part D IRMAA in 2024 . There’s also an IRMAA surcharge for 8% of Medicare beneficiaries who have Part D plans (prescription drug coverage). Single Married Total Monthly Part B Premium IRMAA Part D 6 $91,000 or less $182 ,000 or less $170. For 2021, the Part B standard monthly premium is $148. gov means it’s official. The standard monthly premium for Medicare Part B enrollees will be $174. Medicare Part B Premiums 2024 and Part D premiums are expected to be: 6. The standard Medicare Part B monthly premium for 2023 is $164. People who earn over $97,000 ($103,000 in 2024) and couples who make over $194,000 ($206,000 in 2024) have to pay an extra fee called an income-related monthly adjustment amount. Which yes is better than what the IRMAA is. If your income two years ago was higher because you were working at that time and now your income is significantly lower because you retired (“work reduction” or “work stoppage”), you can appeal the IRMAA initial determination. 90 in 2023. Since CMS is finalizing a phase in of the 2024 model, the 4. The surcharge, known as IRMAA (income-related monthly adjustment amount), applies to Medicare Part B and Part D premiums. 2023 IRMAA Brackets. 80 from $164. 2024 IRMAA Cost Sharing for Higher Income Medicare Beneficiaries. The main reason for the. The extra charge for Part B starts at $69. The Social Security Administration (SSA) uses your income tax information from 2. 2. Note that IRMAA tax is avoided for 2024 and 2025 also, since those IRMAA tax amounts are based on MAGI in 2022 and 2023, respectively. The Medicare Part B penalty increases your monthly Medicare Part B premium by 10% for each full 12-month period you did not have creditable coverage. The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium will be $174. SSA would assign IRMAA based on their 2022 AGI of $280,000, and they would have to pay $524. 60, and an annual total of. 90 to $174. It can be $76. Those recipients are slated to get a 3. As modified adjusted gross income grows so does the premium per the table below: Income Level. ) And the average monthly premium for all standalone. This amount is based the Medicare trustees report released in March 2023. 70 in 2024). This could be higher based on income (IRMAA applies). The standard premium amount is the same for everyone, regardless of income, but IRMAA is based on a person’s modified adjusted gross income (MAGI) as reported on their federal tax return from two years prior. The average Part D premium is around $55. IRMAA goes back two years to determine your surcharge. Watch on. The 2024 standard monthly Medicare Part B premium will increase by 6% between 2023’s $164. A surcharge is also imposed on those with Part D drug plan coverage. People with higher incomes will pay a Part B premium based on the Income Related Monthly Adjusted Amount (IRMAA) schedule. The standard Medicare Part B Premium in 2024 is a $9. However, if your income exceeds certain thresholds, you will be subject to an IRMAA surcharge on top of the standard premium. 70 for 2024, an increase of $9. up to $2,309 monthly income for married couples. 60 per month for Medicare Part B in 2024. Therefore, Medicare Part B prices will increase in 2024. In January 2024, most U. The Inflation Reduction Act’s redesign of Medicare Part D is projected to reduce enrollee out-of-pocket spending by about $7. Individuals $123,001-$153,000 or couples $246,001. Stable premiums for Medicare Part D prescription drug coverage in 2024 are accompanied by improvements to the Part D. 90 to $174. The enrollee share for Federal Employees Health Benefits Program premiums is rising 7. gov IRMAA brackets are “a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug. Medicare surcharges are also called "Income-Related Monthly Adjustment Amounts" (IRMAA). 50. 10 in 2022. 00. 70 per month in 2024, up from $164. Medicare Part B covers outpatient care like doctor’s office visits, preventive care, scans and tests. The projected average total Part D beneficiary premium is projected to decrease by 1. 0% risk score trend) and 33% of the risk score trend calculated with the updated model. 60/month in 2020. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. Income brackets and surcharge amounts for Part B and Part D IRMAA For 2024, the income brackets for Part B and Part D are the same. The Centers for Medicare and Medicaid Services (CMS) announced the monthly Medicare Part A and B premiums for 2024 on Thursday, with the costs set to go up by 6 percent next year. 70. Five days after my article was published, the 2024 Medicare Parts A & B Premiums and Deductibles were announced. In 2024, the Part B deductible is $240. 20), excluding any penalties and late enrollment fees, and. 50, though this varies based on individual plans. Additionally, Medicare Part B covers preventive and medically necessary services that you receive under the supervision of a Medicare-accepting physician. Starting in 2024 and lasting through 2030, the IRA limits Part D premium growth to no more than 6% per year. Most Medicare beneficiaries will pay the standard Part B premium of $174. 2024 Medicare IRMAA (Income-Related Monthly Adjustment Amount) amounts are increased premiums higher income earners must pay for Medicare Part B and Part D benefits. Part B deductible REDUCED $7 from $233 in 2022 to $226 in 2023. In this post, we’ll delve into what IRMAA is, the income brackets for 2024, how the premiums are calculated, strategies for managing IRMAA, and more. The Medicare IRMAA for Part B went into effect in 2007, while the IRMAA for Part D was implemented as part of the Affordable Care Act in 2011. The IRMAA isn’t the cost of the premium, but the dollar amount added to the standard premium. residents enrolled in Original Medicare. The Medicare trustees projected in March that the standard monthly Part B premium may increase to $174. 2024 IRMAA Thresholds if CPI-U remains constant and legislation is not passed by Congress . The monthly premium is rising from $164. The standard Part B premium for most people in 2024 is $174. 00% for Medicare IRMAA-Part B and by an average of 5. A couple reporting $300,000 will each pay an additional $272. Premium + IRMAA: Part D IRMAA (in addition to Part D plan premium) $103,000 or less:Medicare Part B rates. Each year, the Centers for Medicare & Medicaid Services (CMS) set the following year’s Part B premium. Premiums for Medicare Part B will be $174. The standard Medicare Part B premium is $174. A small number of people may pay a premium that is lower than the base premium in 2024. There is typically not a scenario in which filing jointly will cause you to pay more IRMAA versus filing separately. 80 from $164. The increase in the Part B premiums and deductible is largely due to rising. Starting January 2024, Medicare Part D beneficiaries will reach the catastrophic coverage level when their out-of-pocket and manufacturer-subsidized drug costs total. 2007 was the first year IRMAA for Medicare Part B began. 80 or almost 6 percent per month. The term ‘ IRMAA ‘ stands for Income-Related Monthly Adjustment Amount. Benefits may vary by carrier and location. 80 to $560. The Part B basic premium in calendar year 2023 is scheduled to be $164. 80. 2nd Surcharge Bracket: 6:42%. The costs will go up from the current $164. The IRMAA income thresholds from the 2022 tax year (to determine 2024 Medicare premiums) were: Individuals with income up to $97,000 or married couples up to $194,000 paid the standard premium amount. 2023 Medicare Part B Premiums, IRMAAs, Deductible. Additionally, the annual deductible for Medicare Part B is $203 in 2023. The annual deductible for. 40 a month—$912 a year—on top of Part D premiums charged by. 70/month in 2024. The Medicare Trustees' annual report projected a monthly Part B premium increase from $164. The standard Medicare Part B premium is set at $174. 90 in 2023. 2024 Plan Year For All Local Programs. e beneficiary is left with approximately 25% of the premium. 70 for 2024, an increase of $9. According to Social Security. This charge is in addition to your Medicare Part B and Part D premiums — and if you don’t pay attention to the rules governing it, you might find yourself stuck with a bill you didn’t expect. Ammar Mas-Oo-Di/EyeEm/Getty Images. Preventive services: Health care to prevent illness (like the flu) or detect it at an early stage, when treatment is most likely to work best. 2. For most beneficiaries, the government pays a major portion of the total costs for this coverage, and the beneficiary pays the rest. What is IRMAA for Medicare. In 2023, most people are paying about $165/month per person. On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts. 80 higher than the 2023 premium of $164. 70, an increase of $9. 80 per month in 2024 based on added costs the program is. 70 (normal $164. 70 for 2024, an increase of $9. For most participants, the cost of Medicare Part B will be $174. will increase from $4,660 in 2023 to $5,030 in 2024. 2024 Cheat Sheet; Medicare Workshop; Social Security; Calculators; Forms; FaceBook Group; Newsletter. IRMAA only applies to people enrolled in Medicare Part B and/or Medicare Part D. Based on current projections, Medicare Part B premiums in 2024 are expected to increase by $10, resulting in a monthly premium of $174. 60 per person and $235. 70 in 2024. The standard monthly premium for Medicare Part B enrollees will be $174. The costs will go up from the current $164. 80 more per month, per person. If your income is above $97,000 as an individual or $194,000 as a married couple (in 2022 or 2023), you may have to pay an additional monthly adjustment amount based on your income. 70. 40 a month—$912 a year—on top of Part D premiums charged by. Medicare-eligible retirees and their Medicare-eligible dependents will be reimbursed annually for the standard Medicare Part B amount of $170. 80 from $164. 60 per month and can be as high as $594. Let’s break down what this acronym means. 90. The costs will go up from the current $164. The income limit for IRMAA in 2024 is $103,000 for individuals and $206,000 for couples. $0 premium plans. More info at the link provided for the other cost like IRMAA, Part B Immunosuppressive Drug Coverage and Part A premium (if applicable) and deductibles and co-insurance increases. 90 from $144. The Part B basic premium in calendar year 2023 is scheduled to be $164. The highest IRMAA tier is for those with incomes that exceed $750,000 for married, filing jointly and $500,000 for single filers. 70 , an increase of nearly $10 a month. 60, and an annual total of. If you have to buy Medicare Part A, you’ll pay $278 or $505 per month in 2024, compared with $278 or $506 in 2023. Part B (Medical Insurance) IRMAA Part D = Total Amount Amount due for Part A and/or Part B Past due amount for Part A and/or Part B Amount due for IRMAA Part D Past due amount for IRMAA Part D Don’t send cash. “In most cases, the government pays the majority of Part B and Part D coverage. A beneficiary’s monthly Part B premium has been determined by his or her income since 2007. 90 in 2023. On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and. The surcharge is calculated based on tax returns you reported from two years prior: meaning your 2022 income determines your IRMAA in 2024, your 2023 income determines your IRMAA in 2025, and so on. If you've had a life-changing event that reduced your household income, you can ask to lower the additional amount you'll pay for. Supply: Medicare Prices, Medicare. Add to that amount the IRMAA surcharge amount for Medicare Part D drug coverage. The increase in the 2024 Part B standard premium and deductible is mainly. 3rd Surcharge Bracket: 7. 80. However, for those above the IRMAA threshold, premiums range between $230. tax-exempt interest income (line 2a of IRS Form 1040). Income Tax Brackets for 2024 Are Set;. , 2022) is above a certain amount, you’ll pay the standard premium amount and an Income Related Monthly Adjustment. Standard Part B Premium IRMAA Surcharge Total Part B Premium; Below Threshold: Up to $102,000: Up to $204,000: $174. 70. The Social Security Administration (SSA) determines who pays an IRMAA based on the income reported 2 years prior. 10 per month ($170. Medicare’s Part B standard monthly premium will increase to $174. 90 per month in 2023 ($174. For example,. Note: You may also pay a higher premium if you have a Part B or Part D late enrollment penalty. Most people pay the standard Medicare Part B premium, which was $170. Note: Medicare Part B premiums are based on income so if you have relatively high income in retirement your premium could be higher. 10 per month. 90 in 2023. Part B. The standard monthly premium for Medicare Part B enrollees will be $174. On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts. The idea behind the IRMAA was that Medicare Part B premiums are intended to cover about 25% of the actual cost of the program, with the other 75% effectively representing a subsidy to retirees. The annual deductible for all Medicare Part B beneficiaries will be. 70 for 2024, up from $164. Decoding the Medicare IRMAA Surcharge. The standard Part B premium amount in 2024 is $174. 80 from $164. 90. 50 including. Medicare Part B (Medical Insurance) Costs. 90 in 2023. It’s an alternative to Parts A and B that bundles several coverage types, including Parts A, B, and usually D. Medicare health and drug plan. This charge is known as the Income-Related Monthly Adjustment Amount. 49 in 2023 to $55. Key Takeaways. Policy for IRMAA determination notices. We estimate that the total premium increase, for the approximately 62 million Part B enrollees in 2024, will be $7. You can review the premium amounts for Full Part B coverage for the different income tiers below. Read more here. We note that for the 2024 benefit year, as described in 45 CFR 156. Share. The annual deductible for all Medicare Part B beneficiaries will be $240 in. 50 IRMAA surcharge) Example 2: Alison and Jeremiah are married with a MAGI of $300,000 in 2021. Enrolled in Medicare Part A and. This implements section 11404 of the IRA and will improve access to affordable prescription drug coverage for approximately 300,000 low-income individuals with Medicare. 00% for IRMAA-Part B and for IRMAA-Part D the surcharges will inflate by 5. Premiums can be higher or lower than the basic premium for enrollees who receive Part B benefits through the Medicare Advantage program. Each individual will pay a Part B premium of $560. Medicare Part B IRMAA If the Part B IRMAA applies to you, the amount you owe will be added to your Part B premium, which is $164.