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Home › Medicare Insurance Plans › How Much Does Medicare Medical Insurance (Part B) Cost?

How Much Does Medicare Medical Insurance (Part B) Cost?

April 11, 2017

How much does Medicare Part B cost?

How much is Medicare Part B?

  • Like other types of health insurance, Medicare Part B has a monthly premium.
  • The amount you pay for Medicare Part B is based on your income.
  • Most beneficiaries pay the standard amount of $134 per month (2017 rate)
  • Medicare Part B is free for people in poverty.
  • People with income above $85k pay between $187.50 and $428.60  (2017 rates).

Your Annual Income Determines Your Medicare Part B Premium

Medicare Part B is the medical insurance coverage component of Original Medicare. Unlike Part A, hospital insurance, Part B is not funded through payroll taxes while you work. As a result, most people pay a monthly premium.

For 2017, most people pay the standard Medicare Part B premium of $134 per month (if they have the premium deducted from their Social Security checks). The premium is higher for individuals with incomes above $85,000 per year and for married couples with incomes above $170,000 per year.

Beneficiaries filing an individual tax return pay a monthly premium of $187.50 if their income is $85,001-$107,000; $267.90 if their income is 107,001-160,000; $348.30 if their income is $160,001-$214,000; $428.60 if their income is above $214,000.

For beneficiaries filing jointly, the 2017 Part B monthly premium is $187.50 if their income is $170,001-$214,000; $267.90 if their income is $214,001-$320,000; $348.30 if their income is $320,001-$428,000; and $428.60 if their income is above $428,000.

Related FAQs

  • Does Medicare Cover All Medical Expenses After Age 65?
  • How Is Beneficiary Income Calculated by Medicare?
  • Do Medicare Part B Medical Insurance Premiums Change From Year to Year?

Article by David Bynon / Medicare Insurance Plans, MedicareWire Blog

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