Premiums Rising: Learn About Current and Past Medicare Part B Premiums
Medicare Part B Premiums Are On the Rise
Medicare Part B premiums are indexed for inflation—they're adjusted periodically to keep pace with inflation. What you pay this year may not be what you pay next year. Premiums are also means-tested. This means that they're somewhat dependent on your income. The more income you have, the higher your premium will be. So will you pay more in 2019? Current and past Medicare Part B premiums are detailed below.
Medicare Part B premiums increased for 2019, but only by $1.50, compared to 2018, if you were not already enrolled for Social Security benefits in 2017. The new premium is for those who didn't start Social Security in 2017 at $134 per month. This rate is for singles with modified adjusted gross incomes of over $85,000 and for married taxpayers with MAGIs over $170,000.
Medicare Part B premiums went up in 2013 from the previous year, but then they stayed the same until the 2017 increase. The 2014, 2015 and 2016 premiums were the same as they were in 2013. They started at $104.90 per month and increased for singles with modified adjusted gross incomes over $85,000 and married taxpayers with MAGIs over $170,000.
Medicare Part B premiums were $115.40 per month in 2011. Single taxpayers with modified adjusted gross incomes over $85,000 and married tax filers with MAGIs over $170,000 paid more.
The Social Security Administration publishes historical Medicare Part B and D premiums beginning with 1966. You can access the table at the link above to see that Medicare Part B premiums started at $3 per month in 1966 and Medicare Part D premiums began in 2006 at $250 per year.
Make sure you enroll in Medicare just before you reach age 65, even if you're covered by another health plan. Medicare Part B premiums will be deducted from your monthly benefits if you're already collecting Social Security or Railroad Retirement benefits. If you are not collecting Social Security or Railroad Retirement, you can pay premiums through an automatic deduction from your bank account or by credit card or by mail.