For 2019, there is a change to the Income-Related Monthly Adjustment Amounts (IRMAA) for Medicare. The change is to add another level of adjustment to IRMAA for 2019.
In the past, there were five levels of IRMAA. For 2019, there is a new level added to the top end of the IRMAA adjustments.
IRMAA for 2019
The previous levels remain the same – the first level being the standard premium for Medicare Part B. For 2019, this is $135.50, up $1.50 from 2018. This represents 25% of the actual cost of Medicare Part B. Single people with Modified Adjusted Gross Income (MAGI) up to $85,000 are eligible for this premium amount. Married folks with MAGI up to $170,000 also pay this amount.
The second level, for singles with MAGI between $85,001 and $107,000 (married between $170,001 to $214,000), have their Medicare Part B premium adjusted upward to pay a total of 35% of the true cost. This amounts to a premium of $189.60 for 2019.
When MAGI for singles is between $107,001 and $133,500 ($214,001 to $267,000 for married), the third level premium for Medicare Part B is adjusted to $267.90, which is 50% of the cost of Part B. Between the MAGI amounts of $133,501 and $160,000 for singles ($267,001 to $320,000 if married), the premium for the fourth level jumps to $352.20, which is 65% of Part B’s cost.
The fifth level pays 80% of the cost of Medicare Part B. This applies to singles with MAGI between $160,001 and $500,000 (between $320,001 and $750,000 for