Medicare Part B Premiums
Categories: Insurance
For those on Medicare, Part B is just as important, if not more so, than Part A. Medicare Part B is medical insurance via the U.S. government’s Medicare program for ye elderly folk. Part B covers a lot, like doctor’s visits and outpatient procedures (Part A covers mostly hospital stays).
While Medicare Part A doesn’t require premium payments (though it includes a deductible), Medicare Part B does. Medicare Part B premiums are the monthly payments Medicare recipients must pay every month in order to get the Medicare Part B benefits. For now, Medicare Part B premiums are still under $200 a month for individual tax filers...that is, if you made under $107k in income.
Which of the five premium payment buckets you fall in depends on your modified adjusted gross income from two years ago. If you made above $500k, you’ll be paying more than $450 per month in Medicare Part B premiums. That being said, Medicare Part B premiums are often adjusted because of inflation.