The base Medicare Part B monthly premium for 2022 increases to $170.10/month (from $148.50/month for 2021).
The higher premiums some taxpayers have to pay for 2022 vary depending on the taxpayers’ modified AGI (MAGI) as shown on their 2020 income tax returns. The various MAGI levels increased a small amount with the exception of the maximum MAGI levels which stayed the same (except for MFS where the maximum MAGI level actually went down). The exact costs and modified AGI levels can be found at medicare.gov by clicking on the “Your Medicare Costs” tab and then on “Part B Costs”. The top of the page shows the premiums for 2021 and the bottom of the page shows the premiums for 2022.
The highest Medicare Part B premium for 2022 is $578.30/month (up from $504.90/month for 2021) and applies to:
– Individuals with modified AGI of $500,000 or more.
– Married Filing Jointly taxpayers with modified AGI of $750,000 or more.
– Married Filing Separately taxpayers with modified AGI of $409,000 or more ($412,000 for 2021).