Income-related adjustments push monthly Medicare Part B costs to $690 for top earners, up from the standard $202.90 premium.
High-income retirees face Medicare Part B premiums of up to $690 monthly, a $487 surcharge added to the standard $202.90 fee. The increase stems from IRMAA, an income-related adjustment based on earnings from two years prior.
The surcharge applies across five income tiers, with even a $1 increase over a threshold triggering the full higher premium for an entire year. Most beneficiaries pay the standard $202.90, unaware of the potential for significantly higher costs.
Retirees can appeal IRMAA surcharges using Form SSA-44 after events like retirement or divorce, though few are aware of the option. The adjustment aims to shift costs to higher earners but often catches retirees off guard.