The standard Part B premium amount in 2018 is $134 (or higher depending on your income). However, most people who get Social Security benefits pay less than this amount. This is because the Part B premium increased more than the cost-of-living increase for 2018 Social Security benefits. If you pay your Part B premium through your monthly Social Security benefit, you’ll pay less ($130 on average). Social Security will tell you the exact amount you’ll pay for Part B in 2018. You’ll pay the standard premium amount (or higher) if:
- You enroll in Part B for the first time in 2018.
- You don’t get Social Security benefits.
- You’re directly billed for your Part B premiums (meaning they aren’t taken out of your Social Security benefits).
- You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $134.)
- Your modified adjusted gross income as reported on your IRS tax return from 2 years ago is above a certain amount. If so, you’ll pay the standard premium amount and an Income Related Monthly Adjustment Amount (IRMAA). IRMAA is an extra charge added to your premium.
Part B deductible and coinsurance for 2018 is $183 per year. After your deductible is met, you typically pay 20% of the Medicare-approved amount for most doctor services (including most doctor services while you’re a hospital inpatient), outpatient therapy, and durable medical equipment.