2019 Medicare Part B Premium Costs

Nov 9, 2018

medicare

The Centers for Medicare and Medicaid Services (CMS) announced 2019 premiums for Medicare Parts A & B.

Medicare Part B Premiums/Deductibles

First, let’s define what Medicare Part B covers. It covers physician services, outpatient hospital services, some home health services, durable medical equipment, and certain other medical and health services not covered by Medicare Part A.

The standard monthly premium for Medicare Part B enrollees will be $135.50 for 2019, up from $134 in 2018. Nearly 2 million Medicare beneficiaries (about 3.5%) will pay less than the full Part B standard monthly premium amount in 2019 due to the statutory hold harmless provision, which limits certain beneficiaries’ increase in their Part B premiums to be no greater than the increase in Social Security benefits.

The annual deductible for all Medicare Part B beneficiaries is $185 in 2019, up $2 from the deductible in 2018. Premiums for Medicare Advantage and Medicare Prescription Drug plans are finalized and not affected by this announcement.

Since 2007, Part B monthly premiums are based on income. These Income-Related Monthly Adjustment Amounts (IRMAA) affect about 5% of people with Medicare part B.

Total premiums for high-income beneficiaries for 2019 are shown below:

Beneficiaries who file
individual tax returns with income:
Beneficiaries who file
joint tax returns with income:
The income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $85,000 Less than or equal to $170,000 $0.00 $135.50
Greater than $85,000 and less than or equal to $107,000 Greater than $170,000 and less than or equal to $214,000 $54.10 $189.60
Greater than $107,000 and less than or equal to $133,500 Greater than $214,000 and less than or equal to $267,000 $135.40 $270.90
Greater than  $133,500 and less than or equal to $160,000 Greater than $267,000 and less than or equal to $320,000 $216.70 $352.20
Greater than $160,000 and less than $500,000 Greater than $320,000 and less than $750,000 $297.90 $433.40
Greater than or equal to $500,000 Greater than or equal to $750,000 $325.00 $460.50

**Courtesy of Fedsmith.com

Premiums for high-income beneficiaries who are married and lived with their spouse at any time during the taxable year, but file separately are:

Beneficiaries who are married and lived with their spouses at any time during the year, but who file separate tax returns from their spouses: The income-related monthly adjustment amount Total monthly premium amount
Less than or equal to $85,000 $0.00 $135.50
Greater than $85,000 and less than $415,000 $297.90 $433.40
Greater than or equal to $415,000 $325.00 $460.50

**Courtesy of Fedsmith.com

Your part B premium will be automatically deducted from your benefit payment if you get benefits from one of these:

  • Social Security
  • Railroad Retirement Board
  • The Office of Personnel Management

However, you will get a bill if you don’t receive these benefit payments.

Most people end up paying the standard premium amount. If your modified adjusted gross income is above a certain amount, you may pay an IRMAA. Medicare uses the modified adjusted gross income reported on tax returns from 2 years ago because that’s the most recent information provided to Social Security by the Internal Revenue Service.

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