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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Tax Glossary

Nonrecourse financing

Debt on which a person is not personally liable. In case of nonpayment, the creditor must foreclose on property securing the debt. At-risk rules generally bar losses where there is nonrecourse financing, but an exception applies to certain nonrecourse financing for real estate.

More terms