The government just released the updated figures for 2021 for the Part B Premiums and Deductible.
- The standard Part B Premium increased $3.90/month from $144.60/month to $148.50/month
- Part B deductible increased $5 from $198 to $203
This is good news as it is a relatively low increase (less than 3%) for both the Part B Premium and Part B Deductible.
The Income Related Monthly Adjustment Amounts (IRMAAs) were also updated for 2021. You can find the tables below for individuals with income greater than $88,000 (or joint filers with income less than $176,000). This income is based on your MAGI (Modified Adjusted Gross Income) from your 2019 Tax Return.
If you are in one of the higher income brackets for the Part B IRMAAs, there is an additional IRMAA for the Part D Drug Coverage. The updated table for 2021 can be found below.