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November 25, 2019 10:26 pm
Medicare Premiums in 2020
The basic Part B premium amount for 2020 is $144.60 per month. The Part D premium for drug coverage in 2020 ranges from $13 to $83 per month (depending on the drug plan selected). However, high-income taxpayers with modified adjusted gross income above a set amount in 2018, pay an additional amount for Parts B and D premiums for 2020. (https://www.medicare.gov/your-medicare-costs/part-b-costs).
Note: In the table below, the column for “Married filing separately” applies if the spouses filed separately and lived together at any time in 2018.
| MAGI in 2018 determines 2020 premiums | Part B | Part D | ||
| Individual return | Joint return | Married filing separately | ||
| $87,000 or less | $174,000 or less | $87,000 or less | $144.60 | Your plan premium |
|
Over $87,000 but not over $109,000 |
Over $174,000 but not over $218,000 | N/A | $202.40 | $12.20 + your plan premium |
| Over $109,000 but not over $136,000 | Over $218,000 but not over $272,000 | N/A | $289.20 | $31.50 + your plan premium |
| Over $136,000 but not over $163,000 | Over $272,000 but not over $326,000 | N/A | $376.00 | $50.70 + your plan premium |
| Over $163,000 but less than $500,000 | Over $326,000 but less than $750,000 | Over $87,000 but less than $413,000 | $462.70 | $70.00 + your plan premium |
| $500,000 and over | $750,000 and over | $413,000 and over | $491.60 | $76.40 + your plan premium |
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Tax home
The area of your principal place of business or employment. You must be away from your tax home on a business trip to deduct travel expenses.
