Most people will pay the standard monthly Part B premium of $96.40 in 2009. Some people will pay a higher premium based on their modified adjusted gross income.
Your monthly premium will be higher if you file an individual tax return and your annual income is more than $85,000, or if you are married (file a joint tax return) and your annual income is more than $170,000.
If you meet these criteria, Social Security will use the income reported two years ago on your IRS income tax return to determine your premium (if unavailable, SSA will use income from three years ago). For example, the income reported on your 2007 tax return will be used to determine your monthly Part B premium in 2009. If your income has decreased since 2007, you can ask that the income from a more recent tax year be used to determine your premium, but you must meet certain criteria.
At the end of each year, Social Security will send you a letter if your Part B premium will increase based on the level of your income and to tell you what you can do if you disagree. For more information about Part B premiums based on income, call Social Security at 1-800-772-1213. TTY users should call 1-800-325-0778.
The chart below shows the Part B monthly premium amounts based on income.
These amounts change each year. There may be a late-enrollment penalty.
|You Pay||If Your Yearly Income is|
|$96.40||$85,000 or less||$170,000 or less|
|$308.30||Above $213,000||Above $426,000|
|You Pay||If You Are Married but You File a Separate Tax Return From Your Spouse and Your Yearly Income is|
|$96.40||$85,000 or less|