The annual deductible for all Medicare Part B beneficiaries is $203 in 2021, an increase of $5 from the annual deductible of $198 in 2020. For 2023, based on 2021 tax returns, the first IRMAA threshold starts at $97,000 of AGI for single filers and. 60 plus $12. As we approach the end of another year, it’s essential for Medicare beneficiaries to. Doing so can help keep you in a lower IRMAA bracket in subsequent. Nov 21, 2023, 10:09am EST. tax-exempt interest income (line 2a of IRS Form 1040). The resulting answer is the total amount you will pay (standard premium plus. These show that the marginal IRMAA surcharges are a minimum 3% to 5% of the additional income involved—but that assumes you’re near the top of each IRMAA income bracket. Normally we make under $100,000/year filing jointly but a sale of investment property threw us into a much higher bracket. Days 61-90: $400 ($408 in 2024) copayment each day. These rates also increased for 2024, and the rate brackets have been updated:. 5% increase from the 2021 Medicare Part B premium which was $148. 70. The top-earning single filers will pay the highest rate of 37% on incomes over $578,125 in 2023. This is a 14. What are IRMAA 2023 Brackets? For 2023, the base tier is less than 97k or 194k, depending on your filing status. 2024 IRMAA Brackets. At $10,000 over the threshold, the tax rate is 23. This post about IRMAA Brackets for 2023. I'm leaning towards 103K. Let’s imagine that the SSA calculated the 2022 IRMAA. How much more depends on how much you exceed these numbers. In 2023, whether or not you have to pay IRMAA is determined by your reported annual income for 2021. The Budget called for restructuring IRMAA premiums “under Parts B and D by increasing the lowest income-related premium five percentage points, from 35% to 40% and also increasing other. Let’s break down what this acronym means. First, it is important to note that the official IRMAA Brackets for 2024 have not yet been released. It’s how it works! As you’re probably aware, the standard premium for Medicare Part B is $170. Continuing inflation and a shift in policy for the drug Aduhelm will change Medicare’s income-related monthly adjusted amount (IRMAA) brackets and the 2023 Part B premiums. Those numbers are obtained from your IRS Form 1040: Line 2a: Tax-exempt interest income. The 2022 IRMAA brackets. Conclusion. From there, the surcharges move up through a series of brackets. The usual Half B premium is $164. Each individual reports the type and date of the life-changing. 70 for 2024, an increase of $9. The SSA provides a chart to show you what you can expect in. Tax filing status: Single, head of household, married, filing separately (but living apart for the. m. The annual deductible for all Medicare Part B beneficiaries will be $240. 3) to determine the IRMAA. The IRMAA surcharge is added to your 2023 premiums if your 2021 income was over $97,000 (or $194,000 if you’re married). Learn more about Medicare For more helpful information on Medicare, check out these frequently asked questions about Medicare plans. Here are the 2024 IRMAA amounts for married taxpayers that file separately: Part B Coverage. 90 per month for Medicare Part B. 80 + $147. To illustrate this challenge, note that numerical examples here use the 2023 tiers, based on 2021 income, but it is likely (e. 90/month. Supply: Medicare Prices, Medicare. The revenue brackets are the identical. Once you cross these thresholds, you will pay more for coverage. The 2022 Medicare Part B premium will be $170. [RELATED: 2023 Medicare Part B Rates Announced] IRMAA brackets are different from tax brackets. CMS’s goals for Medicare Advantage and Part D mirror our vision for the agency’s programs as a. 1. Marginal Rates: For tax year 2023, the top tax rate remains 37% for individual single taxpayers with incomes greater than $578,125 ($693,750 for married couples filing jointly). For 2023, the IRMAA monthly surcharge for Medicare Plan B ranges from $230. The 2023 IRMAA brackets are determined based on an individual’s or couple’s Modified Adjusted Gross Income (MAGI) from 2021. En español. Income Related Monthly Adjustment Amount (IRMAA) Reimbursement Application IRMAA 1/2023APPL. Here is a breakdown of the remaining IRMAA brackets and what a couple will pay in total through retirement if legislation remains constant (remember. 8% from $32. The SSA provides a chart to show you what you can expect in. 10 from $135. Depending on your filing status and your MAGI, this IRMAA-B (increase) will range from $65. For 2024, the standard Medicare Part B monthly rate is $174. 70 for 2024, an increase of $9. 70 in 2024, an increase of $9. the IRMAA brackets (what I’ve been calling thresholds) are only inflation indexed AFAIK. For example, in 2023 the IRMAA brackets look like this: For example, in 2023, if a married couple on Medicare had income of $194,000 in 2021, each person will pay $164. My situation is as follows: I will be 65 in AUG. (In that program, private insurers. 20 : $442. Married Submitting Collectively: >= $750,000. Part B IRMAA is calculated by multiplying the average expenditure (which is the standard premium multiplied by 4) by the subsidy percentage assigned to a particular income bracket. In August, inflation increased 1. The 2023 IRMAA brackets are determined based on an individual’s or couple’s Modified Adjusted Gross Income (MAGI) from 2021. The standard monthly premium for Medicare Part B enrollees will be $144. That surcharge is equal to 3. In 2024, if your income is more than $103,000 per year, you’ll pay an IRMAA of $12. Single: $97,000: Married couple filing separately: $97,000: Married couple filing jointly: $194,000: MAGI brackets for 2023 IRMAA surcharges. 2023 IRMAA Brackets. 10 (standard premium) $0. If taxable income is over $22,000 but not over $89,450; the tax is $2,200. The Stealth Taxes include the inclusion of Social Security benefits in gross income, the Medicare premium surtax (also known as IRMAA), the 3. What are the 2023 IRMAA Brackets. 40 in total premiums and couples will save $124. 99 $544. Because we have a marginal income tax rate, if you are bumped into the next higher tax bracket, only your extra dollars of income over the limit are taxed at the higher rate. SSA determines if you owe an IRMAA based. Reducing your MAGI (modified adjusted gross income) will. IRMAA 2023 presents a complex landscape for higher income earners navigating Medicare costs. Beneficiaries Affected by Income-Related Monthly Adjustment Amount (IRMAA) (Premium Year 2021): Program Number of Beneficiaries Affected . If inflation is negative, which is rare but still possible, the IRMAA brackets for 2023 may be lower than these. 37%: Co-Insurance days 91 > 3. IRMAA can apply to either Medicare Part B or Medicare Part D premiums. The extra charge for Part B starts at $69. Find out more about them and what they may be. If inflation runs 0% for the next 11 months, then the IRMAA bracket would be $210,000. B. Put another way, this 3. 2. gov. 2. The standard monthly premium for Medicare Part B enrollees will be $174. Based on a thorough understanding of the 2023 tax brackets, we can then logically come up with the. 70 for 2024, an increase of $9. The annual deductible for all Medicare Part B beneficiaries will be $240. A. The subsidy amounts can be found in table 2. 90 for 2023) and. The SSA provides a chart to show you what you can expect in. The majority of seniors impacted by the Medicare premium surcharge are between ages 65 and 80. It’s calculated based on your modified adjusted gross income, influencing the monthly premium you pay. Skip to main content. My total Medicare Part B premium for 2023 was set to climb from the standard $164. 13 the Social Security Administration set an 8. 2023 Part D premium. The standard monthly premium for Medicare Part B enrollees will be $174. by retiredjg » Thu Sep 28, 2023 10:18 pm. In this installment of "Ask the Hammer," a reader asks: What will the effect of a Roth IRA conversion on Social Security and IRMAA, or income-related monthly. Based on this year’s standard monthly premium of $170. For any other filing status, the threshold is $97,000. The size of the surcharge is based on a sliding scale and increases with each of five IRMAA-related income brackets. Most Medicare Part B users – those whose tax returns in 2019 were $88,000 or less for an individual tax return (or married but filing a separate return) or $176,000 for a joint return – are paying $148. 70, while Medicare lowered the Part B deductible to $240 for 2023. 90 each month on top of the cost of your Part D premium. The income-related monthly adjustment amount (IRMAA) applies to people enrolled in Medicare who have incomes above a certain amount. And if your future income is. The SSA provides a chart to show you what you can expect in. 90 each month on top of the cost of your Part D premium. Married Submitting Individually >= $403,000. 7% over the previous 12 months, according to the CPI data released last Thursday. In 2023, with the inflation adjustment to the IRMAA brackets, you will no longer have a Part D or Part B IRMAA payment. So Medicare should announce the official 2023 IRMAA brackets in November or December 2022. 40 (per taxpayer) To appeal IRMAA, you will need to file form SSA-44. 3. The 2024 IRMAA MAGI income limits are straightforward: $103,000 for individuals and $206,000 for joint filers. 92% on average per threshold. 2. and this is the frustration - the inflation year goes from Sept 2023 - August 2024. To break down the 2023 IRMAA brackets: If an individual or married couple filing separately makes $97,000+; Or 3. 90 for Medicare Part DIRMAA rates for 2022. Oversimplifying, our taxable. IRMAA is a surcharge added to your. The 2023 IRMAA is based on 2021 tax returns; the 2024 IRMAA will be based on 2022 tax returns. 50 in 2021 to $170. The standard Part B premium for most people in 2024 is $174. Continue ReadingWhat you pay for Medicare Part B depends on your income level. IRMAA surcharges rise across five income brackets and apply to both Medicare Part B and Part D. Sources: Code of Federal Regulations, § 418. 60. The “standard premium” for 2023 is $31. IRMAA is a series of tax cliffs. The question you must ask yourself… Do you want to control your Medicare costs, save your Social Security benefit and limit the amount of taxes you will pay in retirement?. The standard monthly premium for Medicare Part B enrollees will be $174. Higher-income Medicare beneficiaries also pay a surcharge for Part D. 90 in 2023). Married Submitting Collectively: >= $750,000. Banking, loans, investing, insurance, taxes, you name it. The changes are meant to. If the Social Security Administration finds that you owe a higher rate, the agency will mail you a letter to let you know your payment amount. If inflation is 0% through August 2022, these will be the 2023 numbers:" Part B Premium 2022 Coverage (2020 Income) Married Filing Jointly: <= $182,000 2023 Coverage (2021. 80 to as much as $560. 90 per month to an extra $395. This indi-vidual will pay IRMAA tax of $860. Previous Post Medicare IRMAA 2023 Brackets: Decoding Monthly IRMAA Premiums and Social Security Next Post [PODCAST] What Everyone is Missing about IRMAA Planning with Sara Grillo Related Posts. For instance, people who made $105,000 in 2022 will pay $244. The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium will be $174. Ultimately the cost (tax) for having too much money while in Medicare is only going to increase in 2024. 80 from $164. 90 a month, and on Oct. IRMAA brackets. In 2022, Medicare Part B saw a high increase of premium of 14. But the income brackets began to be adjusted for inflation as of 2020. with 27%, 22%, 24%, and 27. Those who fall into higher-income brackets, however, will pay more. For most people, MAGI for IRMAA can be calculated by adding together: Days 61-90: $400 ($408 in 2024) copayment each day. The maximum zero rate amount cutoff is $89,250. Please reference our article with Important Tables for 2023 to see the Federal Income Tax Brackets and IRMAA thresholds. The standard premium for Medicare Part B is $174. For any other filing status, the threshold is $97,000. 2023; Treasuries saw first net outflows in two. 50. MrLoco wrote: ↑ Mon Jan 16, 2023 2:40 pm I have read some of the previous posts on doing Roth conversions beyond the first IRMAA tier to lessen the effects of future RMD's from a TRad. 10, that results in IRMAA-affected beneficiaries paying. At 65, we have a 7-month window to enroll in Part B and D, and failure to do so, apart from a few exceptions, results in a lifetime premium penalty. If you are unsure why you are paying an IRMAA, you can call the Social Security hotline at 800-772-1213. Y. 2023 IRMAA Brackets. Here are the brackets for 2022: Projected IRMAA brackets for 2023 2. This step also asks for the date that the event took place, because it must be in the same tax year or an earlier tax year than the one you ask SSA to consider. For example, suppose a married couple filing jointly has $70,000 in other taxable income (after deductions) and $20,000 in qualified dividends and long-term capital gains in 2023. Medicare Part B Premium and Deductible. The Social Security Administration (SSA) determines who pays an IRMAA based on the income reported 2 years prior. The first income threshold for 2023 Medicare premiums will be at least $95,000 if the average CPI-U for Sep 2021 to Aug 2022 is at least. The CMS calculates the IRMAA. 50 a month or $6,732 for the year. IRMAA - Part D IRMAA applicability and amounts are recalculated annually. However, Medicare Part B is a standard plan with a base price. The amount for married people filing a joint tax return will increase from $182,000 in 2022 to $194,000 in 2023. Most other Medicare Part D beneficiaries earning over $97,000 individually or over $194,000 for couples filing joint will see a small decrease in their Part D IRMAA payments. A. $194,000 or less. For married individuals filing joint returns and surviving spouses: If taxable income is under $22,000; the tax is 10% of taxable income. *Applications requesting reimbursement of 2019 amounts must be received by 4/15/2023; 2022 Medicare Part B premium including IRMAA ; $238. The increases are mainly. 60 per month, or $259. For couples who file a joint tax return, that threshold is $194,000 per year. In March, the Medicare trustees estimated that the monthly Part B. 5% (jumping from $148. $0 for the first 60 days of each benefit period. Learn how to calculate your IRMAA (Income-Related Monthly Adjustment Amount) for Medicare Part B and Part D based on your Modified Adjusted Gross Income (MAGI) from two years ago. What Are the IRMAA 2023 Brackets (and How to Avoid It!) By: Taylor Schulte September 23, 2023. The standard monthly premium for Medicare Part B enrollees will be $174. IRMAA surcharges for Part B are. For 2020, the Medicare Part B monthly premiums and the annual deductible are higher than the 2019 amounts. If you fall into one of the high-income categories—more than $103,000 for individuals and $206,000 for couples—the. 20 to $1. 90 to $560. 033: IRMAA and Equitable Relief: TN 4 07-11: HI 01101. 80). which is 277. D ocumentation received after May 3 1, 2023, may not be accepted. The Social Security Administration (SSA) uses tax return information from two years prior to determine IRMAA brackets and subsequent premium amounts. For 2023, IRMAA kicks in if your 2021 MAGI was over $97,000; for married couples filing joint tax returns, above $194,000. Historical Medicare IRMAA Brackets 2007 – 2023. The 2023 IRMAA Medicare premium amounts are based on 2021 federal tax filings. For 2023, the thresholds are $97,000 and $194,000. If inflation is positive, the IRMAA brackets for 2023 may be higher than these. $362. 70 and Medicare Part D premium by as much as $76. 80 from $164. Individual MAGI Couple MAGI Part B Premium Part D Premium; $91,000: $182,000: $170. In this episode, Nick Hopwood, CFP® and Jim Pilat, CFP® of Peak Wealth Management talk about Income Related Monthly Adjustment Amounts (IRMAA). 90 from $144. Abel, who is “They” that has “announced 194k for next year”? As N. To illustrate this challenge, note that numerical examples here use the 2023 tiers, based on 2021 income, but it is likely (e. 2021 Joint tax return. Medicare Open Enrollment and Medicare Savings Programs Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. These figures change annually with. 0% risk score trend) and 33% of the risk score trend calculated with the updated model. There are five IRMAA income brackets depending on your income and filing status. 90 per month. For IRMAA determination purposes, MAGI is used to determine how much (if any) surcharge will be applied to your Medicare premiums. 2024 Part B premium Will Be $174. 49 in 2023 to $55. 90 in 2023, which is down $5. 90 per month to an extra $395. This means that the IRMAA. Published September 15, 2022. Policy. 010 -. Doing so can help keep you in a lower IRMAA bracket in subsequent. For any other filing status, the threshold is $97,000. 1105. Takeaway. Their projected federal tax liability for 2023 would be about $13,671. With the recent release of more than 6 million IRMAA surcharge letters directly to individuals, as well as the 2024 Medicare IRMAA brackets being published, IRMAACP is at the forefront of advanced. "2023 IRMAA: Slight decrease in Medicare Part D IRMAA payments along with changes in the IRMAA brackets due to annual inflation adjustments" A slight increase in 2023 Medicare Part A Deductible (and cost-sharing). So the 2025 IRMAA brackets which will be applied to your 2023 MAGI will likely be somewhat higher. The projected average total Part D beneficiary premium is projected to decrease by 1. The annual deductible for all Medicare Part B beneficiaries will be $240 in. Medicare-eligible retirees and their Medicare-eligible dependents can submit an IRMAA application if they paid above the standard amount of $170. The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an amount Medicare beneficiaries pay in addition to your Part B or Part D premium if their income is above a certain level. IOW, what I pay in 2023 is based on my MAGI in 2021. In 2021, the income thresholds were more than $88,000. In 2024, with the inflation adjustment to the IRMAA brackets, you will no longer have a Part D or Part B IRMAA payment. 90 in 2023. MOAA can help make sense of a confusing system. com article ehh cited estimates that, if inflation is 0% for the next several months, then the 2024 MFJ IRMAA brackets will be as follows: Standard <= $204,000. IRMAA is calculated based on tax brackets. Understanding IRMAA and Its Impact on Medicare Premiums. How much more depends on how much you exceed these numbers. In 2023, surcharges for Medicare Part B range from an extra $65. That’s $15,651 that will stay in their pocket. 25, 2023 (GLOBE NEWSWIRE) -- IRMAA Certified Planner is proud to announce that FINRA, The Financial Industry Regulatory Authority, is. This is the ultimate guide to the 2023 IRMAA brackets (and 2024 projected). 70 for 2024, an increase of $9. Whether or not you have to pay IRMAA is partially determined by your tax filing status. When contributing the maximum, over a 35 year time horizon, traditional savings @ 37% is just about equal to Roth (within a couple percent) when the withdrawal tax rate is in the mid. 65%. If your MAGI is above a certain amount, however, you may need to pay an "Income-Related Monthly Adjustment Amount" (IRMAA-B). For married individuals filing joint returns and surviving spouses: If taxable income is under $22,000; the tax is 10% of taxable income. Single, head–of–household, or qualifying surviving spouse with dependent child tax filing status. 7%. This is where things get tricky. The income brackets are the same. 70. If one of these events affects a Medicare enrollee, he or she can proactively notify the SSA by using a “ Medicare Income-Related Monthly Adjustment Amount – Life-Changing Event “ form. 02%. 90 in 2023, a decrease of $5. 10. and this is the frustration - the inflation year goes from Sept 2023 - August 2024. Don’t assume nonqualified accounts should be used first in a liquidation order strategy. For my friend, Social Security will use his 2021 estimated income to calculate 2022’s IRMAA surcharge and then, for 2023, use his actual 2021 tax return. The IRMAA calculation takes the AGI and tax filing status and compares it to these thresholds. Here are the IRMAA income brackets. 70 in 2024, an increase of $9. 2023 IRMAA Brackets. An estimated 2 million Medicare beneficiaries (about 3. IRMAA stands for Income Related Monthly Adjustment Amounts. Between 2023 to 2031 the federal government is projecting that over 13 million retirees will pay over $354 billion in surcharge/taxes through IRMAA while on. If one or both of the members allege living apart throughout the entire tax year. This legislation reduced taxes for many people and corporations. September 13, 2023 in Healthcare, Taxes. 70 per month in 2024. For individuals the first $250,000 capital gain and for couples the first $500,000 capital gain does not count towards IRMAA. 2023 2024 2025 Medicare Part B IRMAA Premium MAGI Brackets. The income limits for all 2023 tax brackets and all filers will be adjusted for inflation and will be as follows (Table 1). If they complete a Roth conversion of $256,550 to max the 24% bracket, they would save $15,651 in federal taxes by performing the conversion in the next three years instead of waiting until after 2025. The revenue brackets are the identical. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of. 80 (compared to $238. We have all 12 data points out of 12 for the IRMAA brackets in 2024 (based on 2022 income). Today, the Centers for Medicare & Medicaid Services (CMS) released the Announcement of Calendar Year (CY) 2023 Medicare Advantage (MA) Capitation Rates and Part C and Part D Payment Policies (the Rate Announcement). The surcharges are. 60 for 2020, an increase of $9. January 1, 2023: Began the first quarterly period for which drug companies will be required to pay rebates for raising prices that outpace inflation on certain Part B drugs. If you did not pay more than the standard amount then you are not eligible for IRMAA. As a result, the income brackets used to determine Medicare surcharges in 2020. It’s an extra charge added to your standard Part B premium if your Modified Adjusted Gross Income (MAGI) exceeds a certain threshold. Here are the 2024 IRMAA amounts for married taxpayers that file separately: Part B Coverage. documentation is required to request reimbursement for IRMAA premiums . The current Medicare costs and IRMAA brackets can be found at this link. 90 in 2023. Individuals enrolled in Medicare Part B, which covers doctor visits and other outpatient services, will pay a monthly premium of $164. There are five IRMAA income brackets depending on your income and filing status. Income Related Monthly Adjustment Amount (IRMAA) Reimbursement Application IRMAA 1/2023APPL. 20 from $170. 2. The amount of. 50 per. For any other filing status, it’s $97,000. The other rates are: 35% for incomes over $231,250 ($462,500 for married couples filing jointly); 32% for incomes over $182,100 ($364,200 for married couples filing. Policy for the income-related monthly adjustment amount (IRMAA) determination process. The tax rate schedules for 2023 will be as follows. 00/month for those: Filing jointly with income above $386,000 up to $750,000/year. This was a one time event and our income went. The revenue brackets are the identical. Joint filers should each submit one. August 26, 2023 kuadey@gmail. 80 per month to $560. 90/month. For any other filing status, the threshold is $97,000. gov. IRMAA can apply to either Medicare Part B or Medicare Part D premiums. 00. The table below shows the sum of the Part B Premium, Part B IRMAA, and Part D IRMAA for the higher income brackets for 2023. The SSA calculates. 70 for 2024, an increase of $9. For 2023, IRMAA kicks in if your 2021 MAGI was over $97,000; for married couples filing joint tax returns, above $194,000. Yes. We live in a world where taxable income is more important than gross income because it dictates our income tax bracket. In 2023, the standard premium is $164. 44% estimated MA risk score trend included in the 2024 Rate Announcement Fact Sheet is calculated using a blend of 67% of the MA risk score trend calculated with the current model (the 2020 model, 5. Call TTY +1 800-325-0778 if you're deaf or hard of hearing. Income (MAGI) in 2020 determines which bracket applies. The income-related monthly adjustment amount (IRMAA) sliding scale is a set of statutory. 2025 IRMAA Per Person. The Premium Amounts per IRMAA Bracket: According to the Medicare Board Trustees Report from 2019, the surcharges will inflate at as follows through 2028: Part B – 6. Monthly Medicare premiums for 2023 If You Disagree with Our Decision Learn More The law requires an adjustment to your monthly Medicare Part B (medical insurance) and. The Income-Related Monthly Adjustment Amount (IRMAA) is a key factor affecting your Medicare Part B and Part D premiums. $500,000 on an individual return or above $750,000 on a joint return will pay $594 per month, up from $560. Here are the brackets for 2022: Projected IRMAA brackets for 20232. The standard monthly premium for Medicare Part B enrollees will be $174. We live in a world where taxable income is more important than gross income because it dictates our income tax bracket. 40 in additional monthly premiums for Medicare Part D prescription drug. 8% brackets with IRMAA spikes sprinkled in. 10. This change in the IRMAAs will allow more people to take advantage of the standard rate rather than paying the next tier. If an individual or married couple filing separately earns above $97,000, or if a married. The surcharge is calculated based on tax returns you reported from two years prior: meaning your 2022 income determines your IRMAA in 2024, your 2023 income determines your IRMAA in 2025, and so on. This is down $5. 94%. Individual MAGI Couple MAGI Part B Part D (per/mo) $97,000: $194,000: $164. The IRMAA is based on tax returns from two years before, which means the surcharge in 2023 will depend on a person’s income in 2021. 2nd Surcharge Bracket: 6:42%. That’s why I’m looking for sensible predictions, not the actual brackets. 90 in 2023. The average total Part D premium is the sum of the average basic premium and the average supplemental premium for plans with enhanced coverage and is the most accurate current projection of what. The income-related monthly adjustment amount (IRMAA) has increased to $97,000 for individuals and $194,000 for couples. gov. The standard deduction is the fixed amount the IRS allows you to deduct from your annual income even if you don’t itemize your tax return. This is. – 7 p. Tell the representative you want to lower your Medicare Income-Related Monthly Adjustment Amount (IRMAA) due to a life-changing event. About US. Call +1 800-772-1213. Your premium is based on gross income (MAGI). 90 per month in 2023. The Social Security Administration has a series of income brackets that determine what that amount is. Details on the five IRMAA brackets, whose income levels are adjusted each year: Those with income from $97,001 to $123,000 on an individual return or from $194,001 to $246,000 on a joint return will pay $230. While you will be locking in your Mom's 2023 income shortly, the IRMAA brackets are adjusted for inflation - . Supply: Medicare Prices, Medicare.