Medicare Part B is normally covered by a monthly premium to help pay for the cost of doctors, outpatient hospital care, and physical and occupational therapy that one might need. Medicare Part B has a monthly cost or premium that must be paid by everyone who activates their Medicare Part B benefit. The amount you pay varies by how much you/your spouse make per year, this is your Medicare Part B income related adjustment. You must have Medicare Part A and Part B to participate in the Medicare Advantage program or to participate in a Medicare Supplement plan.
The cost for Medicare Part B varies. Most people will pay $104.90 per month but, beginning in 2007, if your modified adjusted gross income is higher you will be required to pay a higher premium each month. See chart below:
Medicare Part B Income Related Adjustment Breakdown
If you are single and make…
Less than $85,000 a year.. $104.90 (Premium)
Between $85,000 and $107,000 a year.. $146.90 (Premium)
Between $107,000 and $160,000 a year.. $209.80 (Premium)
Between $160,000 and $214,000 a year.. $272.70 (Premium)
More than $214,000 a year.. $335.70 (Premium)
If you are married and make…
Less than $170,000 a year.. $104.90 (Premium)
Between $170,000 and $214,000 a year.. $146.90 (Premium)
Between $214,000 and $320,000 a year.. $209.80 (Premium)
Between $320,000 and $428,000 a year.. $272.70 (Premium)
More than $428,000 a year.. $335.70 (Premium)
