CMS just announced the updated Part B premiums for 2021.
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.
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