Medicare Irmaa 2020
Irmaa stands for income related monthly adjustment amount. This can be important information to know for anyone who is eligible to receive Medicare benefits. Irmaa has been in effect since 2007. This effects how much a beneficiary pays for their Part B monthly premium and is based on his or her income. The income-related monthly adjustment amounts (IRMAA) is applied to nearly 7% of the Medicare eligible population enrolled in Medicare Part B. The Medicare Irmaa 2020 amounts are listed below and it is calculated using income from 2 years prior to the current year.
| Beneficiaries who file a
individual tax returns with income of: |
Beneficiaries who file a
joint tax returns with income of: |
Income-related monthly adjustment amount per month | Total monthly premium amount including IRMAA |
| Less than or equal to $87,000 | Less than or equal to $174,000 | $0.00 | $144.60 |
| Greater than $87,000 and less than or equal to $109,000 | Greater than $174,000 and less than or equal to $218,000 | 57.80 | 202.40 |
| Greater than $109,000 and less than or equal to $136,000 | Greater than $218,000 and less than or equal to $272,000 | 144.60 | 289.20 |
| Greater than $136,000 and less than or equal to $163,000 | Greater than $272,000 and less than or equal to $326,000 | 231.40 | 376.00 |
| Greater than $163,000 and less than $500,000 | Greater than $326,000 and less than $750,000 | 318.10 | 462.70 |
| Greater than or equal to $500,000 | Greater than or equal to $750,000 | 347.00 | 491.60 |
Please note; the premiums for married, high-income beneficiaries who lived with their spouse at any time during the taxable year and file a separate return, are as follows:
| Married people that lived with their spouses at any time during the year, but file a return separate from their spouse | Income-related monthly adjustment amount | Total monthly premium amount |
| Less than or equal to $87,000 | $0.00 | $144.60 |
| Greater than $87,000 and less than $413,000 | 318.10 | 462.70 |
| Greater than or equal to $413,000 | 347.00 | 491.60 |
Medicare Irmaa 2020 also applies to Part D Medicare benefits. Irmaa for part D is only if you are enrolled in a Medicare part D drug plan. It is charged through the drug plan and will be added to the total monthly premium of the plan. The 2019 and 2020 table for those plans is below:
2019
| If your filing status and yearly income in 2017 was | |||
| File individual tax return | File joint tax return | File married & separate tax return | You pay each month (in 2019) |
|---|---|---|---|
| $85,000 or less | $170,000 or less | $85,000 or less | your plan premium |
| above $85,000 up to $107,000 | above $170,000 up to $214,000 | not applicable | $12.40 + your plan premium |
| above $107,000 up to $133,500 | above $214,000 up to $267,000 | not applicable | $31.90 + your plan premium |
| above $133,500 up to $160,000 | above $267,000 up to $320,000 | not applicable | $51.40 + your plan premium |
| above $160,000 and less than $500,000 | above $320,000 and less than $750,000 | above $85,000 and less than $415,000 | $70.90 + your plan premium |
| $500,000 or above | $750,000 and above | $415,000 and above | $77.40 + your plan premium |
2020
| If your filing status and yearly income in 2018 was | |||
| File individual tax return | File joint tax return | File married & separate tax return | You pay each month (in 2020) |
|---|---|---|---|
| $87,000 or less | $174,000 or less | $87,000 or less | your plan premium |
| above $87,000 up to $109,000 | above $174,000 up to $218,000 | not applicable | $12.20 + your plan premium |
| above $109,000 up to $136,000 | above $218,000 up to $272,000 | not applicable | $31.50 + your plan premium |
| above $136,000 up to $163,000 | above $272,000 up to $326,000 | not applicable | $50.70 + your plan premium |
| above $163,000 and less than $500,000 | above $326,000 and less than $750,000 | above $87,000 and less than $413,000 | $70.00 + your plan premium |
| $500,000 or above | $750,000 and above | $413,000 and above | $76.40 + your plan premium |
Keep in mind, Irmaa is based on your income from 2 years prior to the current year. If you and/or your spouse make less now than you did 2 years prior you may be able to file an appeal and get an adjustment based on current income. To apply for an Irmaa adjustment you should contact your local social security office.
Contact Crowe and associates with any questions regarding IRMAA adjustments
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