Medicare Premiums Go Up Yearly, and More for High Earners

By /

Most people new to Medicare know that part A is $0 but part B has a premium, currently in 2026 it starts at $202.90 per month per person. The vast majority of Medicare Beneficiaries (what a person on Medicare is called), pay the standard premium; however, higher earners pay more, not only for part B, but also for part D. This system of increasing premiums based on increasing income is known as IRMAA, or Income Related Monthly Adjusted Amount.

Currently a beneficiary will pay the standard $202.90 and no part D adjustment if their income in 2024 was under $109,000 (single filer), or $218,000 (married filing jointly)- and a quarky trap if married filing single and either filer made of $109,000 (part B shoots up to $649.20 per month).

Here is an excellent article describing more inticacies and factors that influence the part B premiums and correlated IRMAA adjustments:

https://thefinancebuff.com/medicare-irmaa-income-brackets.html

Now most people here in Dayton, Ohio pay the standard premium, and many beneficiaries don’t pay the premium at all- the state of Ohio pays it for them under a Medicare Premium Assistance Program, also known as MPAP or a Medicare Savings Program (most people earning less than $1816/month with assets under $9,950 qualify, but must apply through Job and Family Services).

https://insurance.ohio.gov/consumers/medicare/msp

For the high earners, there is potential relief. Many beneficiaries income goes down when they retire. You can file and appeal under certain circumstances (marriage, death of a spouse, work stoppage, work reduction, etc.) by filing form SSA with the Social Security Administration.

https://www.ssa.gov/medicare/lower-irmaa

If you are in Ohio, please reach out to us for further information on IRMAA, the MPAP or any other topic related to Medicare. It can be daunting to learn the basics of Medicare but there are many complicated areas that can have a dramatic affect on cost and access to care. Working with an experienced, independent broker is your best remedy for protecting yourself from all of these areas.