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Premiums

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All people enrolled in Part B must pay a monthly premium to receive services (unless they’re eligible for state assistance, as explained in Chapter 4). In late fall, the federal government announces the Part B premium amount for the following year. In 2020, the standard premium is $144.60 a month. Note that qualifying word: standard. If your income is over a certain level, you pay more. Also, if there is no Social Security cost-of-living adjustment (COLA) in any given year, or only a very small one, you may pay different premiums from some other people. I explain the higher-income surcharge, and the impact of zero or small COLAs in some years, later in this chapter.

Medicare For Dummies

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