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December 9, 2020 10:41 pm
Medicare Premiums in 2021
The basic Part B premium amount for 2021 is $148.50 per month, only a little more than the $144.60 per month premium in 2020. The Part D premium for drug coverage in 2021 has declined on average by 34.2% from 2017 choices. However, the basic Parts B and D premiums for 2021 are increased by a surcharge for high-income taxpayers who had modified adjusted gross income (MAGI) above a set amount in 2019. (https://www.cms.gov/newsroom/fact-sheets/2021-medicare-parts-b-premiums-and-deductibles; https://www.medicare.gov/drug-coverage-part-d/costs-for-medicare-drug-coverage/monthly-premium-for-drug-plans).
| MAGI in 2019 determines 2021 premiums | Part B | Part D | ||
| Individual return | Joint return | Married filing separately | ||
| $88,000 or less | $176,000 or less | $88,000 or less | $148.50 | Your plan premium |
| Over $88,000 but not over $111,000 | Over $176,000 but not over $222,000 | N/A | $207.90 | $12.30 + your plan premium |
| Over $111,000 but not over $138,000 | Over $222,000 but not over $276,000 | N/A | $297.00 | $31.80 + your plan premium |
| Over $138,000 but not over $165,000 | Over $276,000 but not over $330,000 | N/A | $386.10 | $51.20 + your plan premium |
| Over $165,000 but less than $500,000 | Over $330,000 but less than $750,000 | Over $88,000 but less than $412,000 | $475.20 | $70.70 + your plan premium |
| $500,000 and over | $750,000 and over | $412,000 and over | $504.90 | $77.10 + your plan premium |
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Accountable reimbursement plan
An employer reimbursement or allowance arrangement that requires you to adequately substantiate business expenses to your employer, and to return any excess reimbursement.
