Medicare Program

In 2019, most Medicare beneficiaries will pay a standard premium of $135.50. Medicare beneficiaries whose modified adjusted gross income (MAGI) tops $85,000 ($170,000 for couples) pay higher premiums for both Medicare Part B and Part D prescription drug program.

If your MAGI exceeds any of the six income tiers by even one dollar, you jump into the next grid tier and will be paying even more for both Medicare B and D. Premium prices for the various income brackets are shown in the table below.

Single Married Couples Part B Part D
<$85,000 <$170,000 $135.50 Plan Premium
$85,000–$107,000 $170,000–$214,000 $189.60 Plan Premium + $12.40
$107,000–$133,500 $214,000–$267,000 $270.90 Plan Premium + $31.90
$133,500–$160,000 $267,000–$320,000 $352.20 Plan Premium + $51.90
$160,000–$500,000 $320,000–$750,000 $433.40 Plan Premium + $70.90
+$500,000 +$750,000 $460.50 Plan Premium + $77.40

Medicare Premiums

Medicare premiums reset each year and take effect the following January 1. If your income falls in future years, your Medicare premiums will fall too.

Medicare Stipulations

Once you enroll in Medicare, you can no longer contribute to an HSA. If you decide to receive Social Security benefits, then you must enroll in Medicare Part A, if age 65 or older. Medicare Part A has zero premiums (assuming you meet eligibility).

What Are My Medicare Choices?

Original Medicare or Medicare Advantage Plan

There are two main ways to get your Medicare coverage. Refer to the Medicare Coverage Choices Sheet for a quick overview.

Have More Questions about Medicare?

If you have more questions about Medicare, visit the Social Security and Medicare section. If you’re ready to start investing, we can help. Use our digital investment tools to select the best portfolio and, more importantly, achieve financial health and wealth.