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 premiumsPart BPart D
Individual returnJoint returnMarried filing separately
$88,000 or less$176,000 or less$88,000 or less$148.50Your plan premium
Over $88,000 but not over $111,000Over $176,000 but not over $222,000N/A$207.90$12.30 + your plan premium
Over $111,000 but not over $138,000Over $222,000 but not over $276,000N/A$297.00$31.80 + your plan premium
Over $138,000 but not over $165,000Over $276,000 but not over $330,000N/A$386.10$51.20 + your plan premium
Over $165,000 but less than $500,000Over $330,000 but less than $750,000Over $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

Accelerated depreciation

Depreciation methods that allow faster write-offs than straight-line rates in the earlier periods of the useful life of an asset. For example, in the first few years of recovery, MACRS allows a 200% double declining balance write-off, twice the straight-line rate.

More terms