Meet our Agents
  • Home
  • About Us
    • Our Story
    • Reviews
    • Client Services Team
    • How Does a Medicare Agent Get Paid
    • Careers
    • Medicare FAQs
    • Contact Us
  • For Agents
    • Working with Black Point
    • Agent Testimonials
    • Register for Training
    • Get Contracted
    • Resources
    • Contact Us
  • Medicare Help
    • Attend a Medicare 101
    • Request an Appointment
    • Medicare Basics
    • Medicare Costs
    • Apply for Medicare
    • Filling Medicare Gaps
    • Resources
  • Existing Clients
    • Update Plan Assessment
    • Attend a Client Webinar
    • Contact Us
  • Blogs
    • Blog 1-Medicare Made Simple
    • Blog 2-Erin the Entrepreneur
  • This is 65

Medicare Costs

2021 Premiums 

​Part A:
 No fee for the majority of beneficiaries*

Part B: $148.50 monthly for 2021 (automatically deducted from Social Security benefit payments). Individuals with an annual income of more than $88,000 pay a higher premium.

Part C (Medicare Advantage): $148.50 monthly for the Part B premium for 2021, plus any additional premium set by the insurer.

Part D prescription drug plan: Premium varies by plan, averages $30.50 monthly for 2021.

Medigap: Amount varies by plan and extent of coverage.
*A small number of beneficiaries (who didn’t pay enough Medicare taxes during their working years) must pay a $471 monthly premium.
IRMAA-income related Monthly Adjustment Amount
An IRMAA is a surcharge added to your monthly Medicare Part B and Part D premiums, based on your yearly income. The Social Security Administration (SSA) uses your income tax information from 2 years ago to determine if you owe an IRMAA in addition to your monthly premium.
Picture
How Much Does Medicare Cost?
Picture
IRMAA Reconsideration 
High earner taxes can effect both B & D premiums but if you've had a life change that reduces your income you may be a good candidate for reconsideration of premiums. Examples include: 
  • work stoppage or reduction of hours
  • marriage, divorce or being widowed
  • the loss of income-producing property
  • changes or termination of a pension
  • receipt of a settlement from an employer due to company closure or bankruptcy
Picture
Calculating Modified Adjusted Gross Income (MAGI)

Attend a Medicare 101 / Request an Appointment  / Medicare Basics  / Medicare Costs  / Apply for Medicare
​Filling Medicare Gaps / Resources
 
​
  • Home
  • About Us
    • Our Story
    • Reviews
    • Client Services Team
    • How Does a Medicare Agent Get Paid
    • Careers
    • Medicare FAQs
    • Contact Us
  • For Agents
    • Working with Black Point
    • Agent Testimonials
    • Register for Training
    • Get Contracted
    • Resources
    • Contact Us
  • Medicare Help
    • Attend a Medicare 101
    • Request an Appointment
    • Medicare Basics
    • Medicare Costs
    • Apply for Medicare
    • Filling Medicare Gaps
    • Resources
  • Existing Clients
    • Update Plan Assessment
    • Attend a Client Webinar
    • Contact Us
  • Blogs
    • Blog 1-Medicare Made Simple
    • Blog 2-Erin the Entrepreneur
  • This is 65