Insurers of all Medicare Part A eligibility criteria can also subscribe to Medicare Part B with a monthly fee. Those with higher incomes will be charged a higher fee to Part B.
If you do not meet the criteria for free part A, you can purchase part B without acquiring part A if:
- you are 65 years of age and older;
- you are a US citizen;
- you are a person who legally entered the United States, but did not have citizenship, and has resided in the United States for at least 5 years.
You can quote to Part B only during the specified subscription periods. If you do not subscribe to Part B, as soon as you are entitled to it, you may have to pay a fine during the entire quoting period.
How does Social Security define if an individual must pay higher premiums in Part B?
To define whether you should pay higher premiums, Social Security Service utilizes the most recent federal tax return 2016 or 2017. These statistics are provided by the IRS. If a company specifies you are as a person to pay higher Medicare part b premiums, the company will use a special scale to make the fee adjustments. These adjustments are conducted in accordance with your modified adjusted gross income (MAGI). Your MAGI is your total adjusted gross income and tax-exempt interest income.
If your taxes are specified as “married, filing jointly” and your MAGI test is over $170,000, every customer will pay higher premiums for your Part B and Part D. If your taxes have a different status, your MAGI is over $85,000, you’ll pay higher Medicare part B premiums.
If you are obliged to pay higher Medicare premiums, the company staff will send you an email with your premium amount(s) and the reason for our determination. If you have both Medicare Part B and Medicare Part D, the client is obliged to pay higher premiums for each. If you acquire only one — Medicare Part B or Medicare Part D – a client is obliged to pay an income-related monthly adjustment amount.
|Beneficiaries who file an individual tax return with income:
|Beneficiaries who file a joint tax return with income:
|Total monthly premium amount
|Less than or equal to $85,000
|Less than or equal to $170,000
|Greater than $85,000 and less than or equal to $107,000
|Greater than $170,000 and less than or equal to $214,000
|Greater than $107,000 and less than or equal to $160,000
|Greater than $214,000 and less than or equal to $320,000
|Greater than $160,000 and less than or equal to $214,000
|Greater than $320,000 and less than or equal to $428,000
|Greater than $214,000
|Greater than $428,000