Beneficiaries that participate in Medicare Part B and Medicare Part D may have to pay higher premiums. This depends on your income, due to 2014 Income Related Monthly Adjustment Amounts. If you’re categorized as a “high earner” you’ll be paying more for Medicare parts B and D.
The standard Medicare Part B monthly premium will be $104.90 in 2014.
Beneficiaries in Medicare Part D prescription drug coverage plans do not have a standard premium. They pay premiums that vary from plan to plan. Beginning in 2011, the Affordable Care Act changed the 2014 Income Related Monthly Adjustment Amounts. It required Part D beneficiaries whose modified adjusted gross income exceeds the same income thresholds that apply to Part B premiums to also pay 2014 Income Related Monthly Adjustment Amounts.
2014 Income Related Monthly Adjustment Amounts
| Beneficiaries who file an individual tax return with income | Beneficiaries who file a joint tax return with income | Income-related monthly adjustment amount | Total monthly Part B premium amount |
| $85,000 or less | $170,000 or less | $0.00 | $104.90 |
| above $85,000 up to $107,000 | above $170,000 up to $214,000 | $42.00 | $146.90 |
| above $107,000 up to $160,000 | above $214,000 up to $320,000 | $104.90 | $209.80 |
| above $160,000 up to $214,000 | above $320,000 up to $428,000 | $167.80 | $272.70 |
| above $214,000 | above $428,000 | $230.80 | $335.70 |
Part D premiums by income
The chart below shows estimated Part B monthly premium based on your income. If your income is above a certain limit, you’ll pay an income-related monthly adjustment amount in addition to your plan premium.
| File individual tax return | File joint tax return | File married & separate tax return | You pay (in 2014) |
| $85,000 or less | $170,000 or less | $85,000 or less | your plan premium |
| above $85,000 up to $107,000 | above $170,000 up to $214,000 | not applicable | $12.10 + your plan premium |
| above $107,000 up to $160,000 | above $214,000 up to $320,000 | not applicable | $31.10 + your plan premium |
| above $160,000 up to $214,000 | above $320,000 up to $428,000 | above $85,000 up to $129,000 | $50.20 + your plan premium |
| above $214,000 | above $428,000 | above $129,000 | $69.30 + your plan premium |
Additional information about Medicare coverage, including specific benefits and deductibles, can be found at www.medicare.gov.
