What are the IRMAA Brackets 2024?
- High-income earners may pay a Medicare IRMAA, which are higher premiums for their Medicare Part B and Part D coverage. Learn more about the Medicare income-related monthly adjustment amount (IRMAA) and how it may affect you.
Medicare beneficiaries who earn higher incomes may have to pay an additional fee on top of their monthly Medicare Part B and Medicare Part D premiums called the Income-Related Monthly Adjustment Amount, or IRMAA.
How is IRMAA Calculated?
IRMAA is calculated using the income reported on your tax returns from two years prior. Your Medicare IRMAA amount in 2024 is determined by your reported income in 2022.
The income used to calculate the Medicare IRMAA is taken from your Modified Adjusted Gross Income (MAGI) – which is your total adjusted gross income plus any tax-exempt interest – from two years prior. The MAGI limits displayed in the charts below may be adjusted for inflation every year.
Are 2024 Medicare Premiums Based on Income from 2022?
Yes. Medicare beneficiaries who reported an individual income at or below $103,000 in 2022, or a married couple who earn no more than $206,000 per year in 2022, will now pay $174.70 per month in 2024.
Those who earn more than that amount will be subject to Medicare IRMAA amounts according to the IRMAA income limits displayed below.
IRMAA Brackets for 2024
| 2022 Individual tax return | 2022 Joint tax return | 2022 Married and separate tax return | 2024 Part B monthly premium |
|---|---|---|---|
| $103,000 or less | $206,000 or less | $103,000 or less | $174.70 |
| More than $103,000 and up to $129,000 | More than $206,000 and up to $258,000 | N/A | $244.60 |
| Above $129,000 to $161,000 | Above $258,000 to $322,000 | N/A | $349.40 |
| More than $161,000 up to $193,000 | More than $322,000 up to $386,000 | N/A | $454.20 |
| More than $193,000 up to less than $500,000 | More than $386,000 up to less than $750,000 | More than $103,000 up to less than $397,000 | $559.00 |
| More than or equal to $500,000 | More than or equal to $750,000 | More than or equal to $397,000 | $594.00 |
Medicare Part D IRMAA in 2024
Beneficiaries of Medicare Part D prescription drug plans may also pay a monthly premium for their drug coverage. Unlike Medicare Part B, which is standardized by the federal government, Part D plans are sold by private insurance companies, so monthly premiums can vary between plans and providers.
But while Medicare Part D plans are sold by private insurers, an IRMAA fee still applies to higher income earners according to the chart below.
| 2022 Individual tax return | 2022 Joint tax return | 2022 Married and separate tax return | 2024 Part D monthly premium |
|---|---|---|---|
| $103,000 or less | $206,000 or less | $103,000 or less |
Your plan premium |
| More than $103,000 and up to $129,000 | More than $206,000 and up to $258,000 | N/A |
$12.90 + your plan premium |
| More than $129,000 up to $161,000 | More than $258,000 up to $322,000 | N/A |
$33.30 + your plan premium |
| More than $161,000 up to $193,000 | More than $322,000 up to $386,000 | N/A |
$53.80 + your plan premium |
| More than $193,000 up to less than $500,000 | More than $386,000 up to less than $750,000 | More than $103,000 up to less than $397,000 |
$74.20 + your plan premium |
| More than or equal to $500,000 | More than or equal to $750,000 | More than or equal to $397,000 |
$81.00 + your plan premium |
It’s worth pointing out that high-income beneficiaries with both Medicare Part B and Part D must pay the IRMAA amounts for both parts. The Part D IRMAA may also apply to you if you have a Medicare Advantage (Medicare Part C) plans that include prescription drug benefits.
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Is IRMAA Calculated Every Year?
Yes, IRMAA is calculated every year and is based on your modified adjusted gross income (MAGI) from two years prior.
Can You Appeal the Medicare IRMAA?
If the Social Security Administration determines that you are subject to the Medicare IRMAA, you will receive a notice in the mail called an “initial determination.” The notice will include instructions for how to file for a revised determination, which will initiate a review of your income to verify your IRMAA requirement.
You may file for a revised determination if you have experienced a life-changing event that may have triggered incorrect income information. Qualifying life-changing evens include:
- Death of a spouse
- Marriage, divorce or annulment
- Stoppage or reduction of work
- Involuntary loss of income-producing property due to a natural disaster, disease, fraud or other circumstances
- Loss of pension
- Receipt of settlement payment from a current or former employer due to the employer’s closure or bankruptcy
- Filing an amended tax return or having a more recent tax return than the one used by the Social Security Administration
You will need to provide documentation of your life-changing event to file for a revised determination of your IRMAA status.
If you did not experience a life-changing event, you may still appeal your IRMAA status. Contact the Social Administration at 800-772-1213 or by visiting your local Social Security office and request an appeal or “reconsideration.”
If this appeal is denied, you may then appeal to the Office of Medicare Hearings and Appeals (OMHA) within 60 days. Instructions for filing this appeal can be found on the notice informing you of the initial appeal denial.
