What are Medicare Part D-IRMAA and Part B-IRMAA?
Last Updated : 01/25/20202 min read
IRMAA stands for the Income-Related Monthly Adjustment Amounts. IRMAA can apply to Medicare Part B (medical insurance) and Medicare Part D (prescription drug coverage).
The IRMAA amounts may apply if your income is higher than a certain level. The government looks at your income as reported on your taxes two years ago.
How much are the IRMAA amounts for Part D and Part B?
This table lays out how much the IRMAA adjustments are for Medicare Part D and Part B as of 2020. It’s based on your 2018 income taxes. The government looks at your modified adjusted gross income from two years before the current year.
|Modified adjusted gross income/ tax filing category|
|Individual||Married, filing jointly||Married, filing separately||Your monthly Medicare Part B premium may be||The amount added to your monthly Medicare Part D premium may be|
|$87,000 or less||$174,000 or less||$87,000 or less||$144.60||$0|
|$87,001 – $109,000||$174,001 – $218,000||N/A||$202.40||$12.20|
|$109,001 -$136,000||$218,001 – $272,000||N/A||$289.20||$31.50|
|$136,001 – $163,000||$272,001 – $326,000||N/A||$376.00||$50.70|
|$163,001 to less than $500,000||$326,001 to less than $750,000||$87,001 to less than $413,000||$462.70||$70.00|
|$500,000 or above||$750,000 and above||$413,000 and above||$491.60||$76.40|
How will I know if I have to pay an IRMAA adjustment for Part D and Part B?
If you’re required to pay an IRMAA amount, you’ll get a notice from Social Security. The notice is called an “initial IRMAA determination.”
Generally, you don’t have to do anything, although it would be a good idea to review the notice to make sure it’s correct and keep it for your records. For most people, the Medicare Part B IRMAA amount is added to your premium and automatically deducted from their Social Security benefits. The Medicare Part D IRMAA, if it applies to you, will be added to your Part D premium.
If your income level drops, you can file an appeal with Social Security. The instructions for filing an appeal are on your IRMAA determination letter.
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