Estimate your monthly Medicare Part B and Part D premiums, including any Income-Related Monthly Adjustment Amounts (IRMAA), based on your Modified Adjusted Gross Income (MAGI) and filing status from two years prior.
Single
Married Filing Jointly
Married Filing Separately (living with spouse)
Married Filing Separately (living apart from spouse)
Qualifying Widow(er)
Understanding Your Medicare Premiums
Medicare premiums, particularly for Part B (medical insurance) and Part D (prescription drug coverage), are not always a flat rate. For many beneficiaries, the standard premium applies. However, if your income exceeds certain thresholds, you may be required to pay an Income-Related Monthly Adjustment Amount (IRMAA) in addition to your standard premium.
What is IRMAA?
IRMAA stands for Income-Related Monthly Adjustment Amount. It's an extra charge added to your Medicare Part B and Part D premiums if your Modified Adjusted Gross Income (MAGI) is above a certain level. The Social Security Administration (SSA) determines your IRMAA based on the income reported on your tax return from two years prior. For example, your 2024 IRMAA is based on your 2022 tax return.
How is Modified Adjusted Gross Income (MAGI) Calculated for Medicare?
For Medicare purposes, your MAGI is generally your Adjusted Gross Income (AGI) plus any tax-exempt interest income. This includes income from sources like wages, self-employment, Social Security benefits, pensions, investments, and tax-exempt bonds. It's important to note that the MAGI calculation for Medicare can differ slightly from other MAGI definitions used for other tax purposes.
Medicare Part B Premiums
Most people pay the standard Part B premium. In 2024, the standard Part B premium is $174.70 per month. If your MAGI exceeds the IRMAA thresholds, you will pay the standard premium plus an IRMAA. The amount of IRMAA depends on your income level and tax filing status.
Medicare Part D Premiums
Part D premiums vary widely depending on the specific plan you choose. Each plan has a base monthly premium. Similar to Part B, if your MAGI is above certain thresholds, you will pay an IRMAA in addition to your Part D plan's base premium. This IRMAA is paid directly to Medicare, not to your Part D plan provider.
Tax Filing Status and IRMAA
Your tax filing status plays a significant role in determining your IRMAA. The income thresholds for IRMAA are different for individuals who file as Single, Married Filing Jointly, Married Filing Separately, or Qualifying Widow(er). It's crucial to use the correct filing status from two years prior when estimating your premiums.
Examples of Medicare Premium Calculation (2024):
Example 1: Standard Premiums
Sarah is single and her MAGI from two years ago was $45,000. Her Part D plan has a base premium of $35 per month.
Part B Standard Premium: $174.70
Part B IRMAA: $0 (below threshold)
Total Part B Premium: $174.70
Part D Base Premium: $35.00
Part D IRMAA: $0 (below threshold)
Total Part D Premium: $35.00
Total Monthly Medicare Premiums: $209.70
Example 2: Higher Income – Single Filer
David is single and his MAGI from two years ago was $140,000. His Part D plan has a base premium of $40 per month.
Part B Standard Premium: $174.70
Part B IRMAA: $174.70 (for MAGI between $129,001 – $161,000)
Total Part B Premium: $349.40
Part D Base Premium: $40.00
Part D IRMAA: $33.30 (for MAGI between $129,001 – $161,000)
Total Part D Premium: $73.30
Total Monthly Medicare Premiums: $422.70
Example 3: Higher Income – Married Filing Jointly
Maria and John file jointly, and their combined MAGI from two years ago was $300,000. Their Part D plan has a base premium of $50 per month.
Part B Standard Premium: $174.70
Part B IRMAA: $174.70 (for MAGI between $258,001 – $322,000)
Total Part B Premium: $349.40
Part D Base Premium: $50.00
Part D IRMAA: $33.30 (for MAGI between $258,001 – $322,000)
Total Part D Premium: $83.30
Total Monthly Medicare Premiums: $432.70
This calculator provides an estimate based on 2024 IRMAA thresholds. Your actual premiums may vary based on official determinations by the Social Security Administration.
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function calculateMedicarePremium() {
var magi = parseFloat(document.getElementById("magi").value);
var filingStatus = document.getElementById("filingStatus").value;
var partDBasePremium = parseFloat(document.getElementById("partDBasePremium").value);
// Validate inputs
if (isNaN(magi) || magi < 0) {
document.getElementById("result").innerHTML = "Please enter a valid Modified Adjusted Gross Income (MAGI).";
return;
}
if (isNaN(partDBasePremium) || partDBasePremium < 0) {
document.getElementById("result").innerHTML = "Please enter a valid Part D Base Monthly Premium.";
return;
}
// 2024 Standard Part B Premium
var standardPartBPremium = 174.70;
// Initialize IRMAA amounts
var partBIRMAA = 0;
var partDIRMAA = 0;
var partBIRMAABracket = "Standard";
var partDIRMAABracket = "Standard";
// IRMAA Thresholds and Premiums for 2024
// Part B IRMAA tiers (additional amount)
var partBTiers = {
single: [
{ threshold: 103000, irmaa: 0 }, // Standard
{ threshold: 129000, irmaa: 69.90 },
{ threshold: 161000, irmaa: 174.70 },
{ threshold: 193000, irmaa: 279.50 },
{ threshold: 500000, irmaa: 384.30 },
{ threshold: Infinity, irmaa: 419.30 }
],
marriedJointly: [ // Also for Qualifying Widow(er)
{ threshold: 206000, irmaa: 0 }, // Standard
{ threshold: 258000, irmaa: 69.90 },
{ threshold: 322000, irmaa: 174.70 },
{ threshold: 386000, irmaa: 279.50 },
{ threshold: 750000, irmaa: 384.30 },
{ threshold: Infinity, irmaa: 419.30 }
],
marriedSeparatelyLivingWith: [
{ threshold: 103000, irmaa: 0 }, // Standard
{ threshold: 386000, irmaa: 384.30 },
{ threshold: Infinity, irmaa: 419.30 }
],
marriedSeparatelyLivingApart: [ // Same as single for IRMAA purposes
{ threshold: 103000, irmaa: 0 }, // Standard
{ threshold: 129000, irmaa: 69.90 },
{ threshold: 161000, irmaa: 174.70 },
{ threshold: 193000, irmaa: 279.50 },
{ threshold: 500000, irmaa: 384.30 },
{ threshold: Infinity, irmaa: 419.30 }
]
};
// Part D IRMAA tiers (additional amount)
var partDTiers = {
single: [
{ threshold: 103000, irmaa: 0 }, // Standard
{ threshold: 129000, irmaa: 12.90 },
{ threshold: 161000, irmaa: 33.30 },
{ threshold: 193000, irmaa: 53.80 },
{ threshold: 500000, irmaa: 74.20 },
{ threshold: Infinity, irmaa: 81.00 }
],
marriedJointly: [ // Also for Qualifying Widow(er)
{ threshold: 206000, irmaa: 0 }, // Standard
{ threshold: 258000, irmaa: 12.90 },
{ threshold: 322000, irmaa: 33.30 },
{ threshold: 386000, irmaa: 53.80 },
{ threshold: 750000, irmaa: 74.20 },
{ threshold: Infinity, irmaa: 81.00 }
],
marriedSeparatelyLivingWith: [
{ threshold: 103000, irmaa: 0 }, // Standard
{ threshold: 386000, irmaa: 74.20 },
{ threshold: Infinity, irmaa: 81.00 }
],
marriedSeparatelyLivingApart: [ // Same as single for IRMAA purposes
{ threshold: 103000, irmaa: 0 }, // Standard
{ threshold: 129000, irmaa: 12.90 },
{ threshold: 161000, irmaa: 33.30 },
{ threshold: 193000, irmaa: 53.80 },
{ threshold: 500000, irmaa: 74.20 },
{ threshold: Infinity, irmaa: 81.00 }
]
};
// Adjust filing status for lookup if it's Qualifying Widow(er) or Married Separately Living Apart
var effectiveFilingStatus = filingStatus;
if (filingStatus === "qualifyingWidower") {
effectiveFilingStatus = "marriedJointly";
} else if (filingStatus === "marriedSeparatelyLivingApart") {
effectiveFilingStatus = "single";
}
// Calculate Part B IRMAA
var currentPartBTiers = partBTiers[effectiveFilingStatus];
for (var i = 0; i < currentPartBTiers.length; i++) {
if (magi <= currentPartBTiers[i].threshold) {
partBIRMAA = currentPartBTiers[i].irmaa;
partBIRMAABracket = (i === 0 ? "Standard" : "Tier " + (i + 1)) + " (MAGI up to $" + currentPartBTiers[i].threshold.toLocaleString() + ")";
break;
}
}
// Calculate Part D IRMAA
var currentPartDTiers = partDTiers[effectiveFilingStatus];
for (var i = 0; i < currentPartDTiers.length; i++) {
if (magi <= currentPartDTiers[i].threshold) {
partDIRMAA = currentPartDTiers[i].irmaa;
partDIRMAABracket = (i === 0 ? "Standard" : "Tier " + (i + 1)) + " (MAGI up to $" + currentPartDTiers[i].threshold.toLocaleString() + ")";
break;
}
}
var totalPartBPremium = standardPartBPremium + partBIRMAA;
var totalPartDPremium = partDBasePremium + partDIRMAA;
var totalMonthlyPremium = totalPartBPremium + totalPartDPremium;
var resultHTML = "
Your Estimated Monthly Medicare Premiums (2024)
";
resultHTML += "Your MAGI from 2 years ago: $" + magi.toLocaleString() + "";
resultHTML += "Your Filing Status: " + document.getElementById("filingStatus").options[document.getElementById("filingStatus").selectedIndex].text + "";
resultHTML += "";
resultHTML += "Medicare Part B Premium:";
resultHTML += "
";
resultHTML += "
Standard Part B Premium: $" + standardPartBPremium.toFixed(2) + "
";
resultHTML += "
Part B IRMAA: $" + partBIRMAA.toFixed(2) + " (" + partBIRMAABracket + ")
";
resultHTML += "
Total Part B Premium: $" + totalPartBPremium.toFixed(2) + "
";
resultHTML += "
";
resultHTML += "Medicare Part D Premium:";
resultHTML += "
";
resultHTML += "
Your Part D Plan's Base Premium: $" + partDBasePremium.toFixed(2) + "
";
resultHTML += "
Part D IRMAA: $" + partDIRMAA.toFixed(2) + " (" + partDIRMAABracket + ")
";
resultHTML += "
Total Part D Premium: $" + totalPartDPremium.toFixed(2) + "
";
resultHTML += "
";
resultHTML += "";
resultHTML += "Total Estimated Monthly Medicare Premiums (Part B + Part D): $" + totalMonthlyPremium.toFixed(2) + "";
resultHTML += "This estimate is based on 2024 IRMAA thresholds. Your actual premiums may vary based on official determinations by the Social Security Administration.";
document.getElementById("result").innerHTML = resultHTML;
}