May Be Increased. Or Eliminated.
The 2025 standard monthly premium for Medicare Part B beneficiaries is $185.00.
However, your 2025 Medicare Parts B and D premiums can be higher or lower than that based on your prior or current income.
- Higher? Yes. If the Modified Adjusted Gross Income (MAGI) on your 2023 tax filing exceeded $106,000 ($212,000 joint) your 2025 Medicare Parts B and D premiums are increased. This will be withheld from your 2025 Social Security benefit. Here is more information about the Income Related Monthly Adjustment Amount (IRMAA) for Parts B and D
- Lower? Yes. If your current annual income is below 186% of the Federal Poverty Level you will be eligible for the Medicare Savings QI Program, regardless of assets, and will not be paying any Part B premium.
- If you are being charged IRMAA and had a life-changing event that resulted in a reduction in your income, you may be eligible for a reduction in IRMAA. Call Social Security at 1-800-772-1213 for instructions on how to file an appeal via the SSA-44 form.
- Plan ahead. Assuming the law is not changed, check with your financial planner or tax preparer to confirm whether your 2024 tax filing will trigger a 2026 IRMAA.
- Or, if your current monthly income is below $2,355 individual / $3,189 couple schedule a telephone appointment with me and we can review whether you are eligible for the Medicare Savings QI Program.
Questions?
Our licensed, independent and certified agents are available to answer your questions about Parts A, B, IRMAA and other Medicare topics. Send us a note below to request an individual consultation.