Medicare Income Limits 2024

If you earn more than $103,000 ($206,000 if you're married), you pay higher monthly rates for both Medicare Part B and D.

For 2024, your costs for Medicare Parts B and D are based on the income on your 2022 tax return. You won't pay any extra if you earned $103,000 or less as an individual, or $206,000 or less if you are married and file your taxes together.

If your income and other financial resources are below about $30,000 per year, you might qualify for programs that lower your Medicare costs like monthly rates, deductibles and coinsurance.

What are the income limits for Medicare in 2024?

The 2024 Medicare income limit is $103,000 for individuals and $206,000 for couples. Those numbers are based on your income on your 2022 tax return.

If you earned more than the Medicare income limit, you'll pay more for Medicare Part B (medical coverage) and Part D (prescription coverage).

What income is used to determine Medicare premiums?

Medicare looks at a number called the modified adjusted gross income (MAGI) when determining whether you'll be charged a higher rate.

This number won't appear on your tax return, but you can calculate it by adding your income after deductions and any tax-free interest

You have to pay for Medicare Part B even if you're enrolled in a Medicare Part C plan. That means you'll pay this higher rate regardless of whether you have Original Medicare or Medicare Advantage.

Which Medicare costs are based on income in 2024?

Medicare part
Typical cost
Changes based on income
Part A (hospital)Usually free
No
Part B (medical)$174.70/mo
Yes
Part C (Advantage)$27/mo
No
Part D (drugs)$59/mo
Yes
Medigap$148/mo
No

Most people will pay the standard Medicare Part B rate in 2024. For Part D, you pay the rate for the plan you select. You may pay extra to Medicare for both Part B and Part D, depending on your income.

Part B and Part D rates are taken automatically from your Social Security or Railroad Retirement Board benefit payments. If you don't get a monthly payment, Medicare will send you a bill.

Medicare Part B rates

For 2024, the standard Medicare Part B monthly rate is $174.70. But you will pay higher rates if you earned more than $103,000 on your individual 2022 tax return or more than $206,000 on a joint return. For instance, people who made $105,000 in 2022 will pay $244.60 per month for Medicare Part B in 2024.

Medicare Part B monthly rate in 2024

Individual income
Joint income
Part B rate
$103K or less$206K or less$174.70
$103K-$129K$206K-$258K$244.60
$129K-$161K$258K-$322K$349.40
$161K-$193K$322K-$386K$454.20
$193K-$500K$386K-$750K$559.00
$500K+$750K+$594.00

Based on your 2022 income

The added charge is known as an income-related monthly adjustment amount, or IRMAA.

The Social Security Administration (SSA) determines your IRMAA based on the modified adjusted gross income on your tax return. If the Social Security Administration finds that you owe a higher rate, the agency will mail you a letter to let you know your payment amount.

Part B immunosuppressive drug coverage only

Part B immunosuppressive drug coverage is a way to continue some Medicare coverage. You can enroll when you're no longer eligible for full benefits three years after a successful kidney transplant. How much you pay for the coverage will depend on your income.

This is a new Medicare benefit that started in 2023 and only covers immunosuppressive drugs. This benefit is separate from Original Medicare Part B and is not a full health insurance plan.

Immunosuppressive drug coverage cost

Individual income
Joint income
Part B rate
$103K or less$206K or less$103.00
$103K-$129K$206K-$258K$171.70
$129K-$161K$258K-$322K$274.70
$161K-$193K$322K-$386K$377.70
$193K-$500K$386K-$750K$480.70
$500K+$750K+$515.10

Monthly rates are based on 2022 income.

Medicare Part D rates

The income limits for Medicare Part D are the same as the Part B amounts. So you'll pay extra for Medicare Part D if your modified adjusted gross income for 2022 was more than $103,000 or $206,000 — depending on whether you're single or married.

For example, if you earned $124,000 in 2022 and filed an individual return, you would pay an extra $12.90 per month for Part D in 2024.

Medicare Part D extra monthly rate in 2024

Individual income
Joint income
Extra amount
$103K or less$206K or less$0.00
$103K-$129K$206K-$258K$12.90
$129K-$161K$258K-$322K$33.30
$161K-$193K$322K-$386K$53.80
$193K-$500K$386K-$750K$74.20
$500K+$750K+$81.00

Based on your 2022 annual income

This extra amount is added on top of the price of the Part D plan you choose. The monthly costs of Medicare Part D plans are set by each insurance company. If you have Part D, you pay a monthly amount to your insurance company for your coverage. But if you're charged more based on income, you pay the extra amount directly to Medicare.

Medicare Extra Help 2024 income limits

The income limits for Medicare Extra Help are $22,590 for an individual and $30,660 for a married couple living together.

You also can't have assets, such as savings, investments and real estate, worth more than $17,220 if you're single or $34,360 if you are married and live with your spouse. You must meet each of these requirements to qualify for Extra Help.

Extra Help income limits chart for 2024

Single
Married
Income limit$22,590$30,660
Asset limit$17,220$34,360

Limits are slightly higher in Alaska and Hawaii. If you have income from working, you may qualify for benefits even if your income is higher than the limits listed.

The Medicare Extra Help program helps pay for some of your Part D costs including monthly rates, annual drug deductibles and prescription copayments. In 2024, you’ll pay a maximum of $4.50 for each generic prescription or $11.20 for each brand-name prescription. Extra Help is estimated to save enrollees about $442 every month.

You can apply for Medicare Extra Help online, at your local Social Security office or over the phone by calling 800-772-1213 (TTY 800-325-0778).

Income limits for Medicare Savings Programs

The 2024 income limits for Medicare Savings Programs (MSPs) are $20,580 per year for an individual and $27,840 per year for a married couple, in many cases.

There are higher income limits if you have a disability and are working. Plus, in about a third of the country, it's easier to qualify because there are higher limits for income or financial resources.

There are four kinds of Medicare Savings Programs, each with its own income and resource qualifications. As with the Extra Help program, you must meet both the income and resources requirements to qualify for a savings program.

Medicare Savings Program (MSP) types

  • Qualified Medicare Beneficiary (QMB)
  • Specified Low-Income Medicare Beneficiary (SLMB)
  • Qualified Individual (QI)
  • Qualified Disabled and Working Individuals (QDWI)

QMB

SLMB

QI

QDWI

Qualified Medicare Beneficiary (QMB): Helps with Part A and Part B cost-sharing and Part B rates
Single
Married
Income limit$15,300$20,688
Asset limit$9,430$14,130

QMB

Qualified Medicare Beneficiary (QMB): Helps with Part A and Part B cost-sharing and Part B rates
Single
Married
Income limit$15,300$20,688
Asset limit$9,430$14,130

SLMB

Specified Low-Income Medicare Beneficiary (SLMB): Helps pay Part B costs
Single
Married
Income limit$18,312$24,768
Asset limit$9,430$14,130

QI

Qualified Individual (QI): Helps pay Part B costs
Single
Married
Income limit$20,580$27,840
Asset limit$9,430$14,130

QDWI

Qualified Disabled and Working Individuals (QDWI): Helps pay Part A costs if you have a disability and no longer qualify for free Part A because you're working.

Single
Married
Income limit$61,260$82,788
Asset limit$4,000$6,000

The federal government pays for Medicare Savings Programs, but individual state Medicaid agencies run them. These programs help people with limited income and resources pay Medicare costs that include monthly rates and out-of-pocket costs, such as your deductible, copays and coinsurance.

You can apply for a Medicare Savings Program through your state's Medicaid office. To find the contact info for your area, select your state on Medicaid.gov.


Frequently asked questions

How much money can you make before it affects your Medicare?

You'll pay more for Medicare if you're an individual who earns more than $103,000 or part of a couple who earns more than $206,000. You can sign up for Medicare no matter how much money you make. You can usually pay less for Medicare if you earn less than $30,000.

What income is used to determine my Medicare rate for 2024?

Your 2024 Medicare rates are set using your income from 2022 to determine if you'll pay an extra fee for Medicare Part B and Part D. Check if you'll have to pay extra by adding your total adjusted gross income (which is line 11 on your taxes showing total income minus deductions) to any tax-exempt interest income (which is line 2a showing interest earned from government bonds) to get at your modified adjusted gross income (MAGI).

How can I get financial help for Medicare costs?

If you qualify, you can get help for Medicare costs through Medicare Extra Help or one of the Medicare Savings Programs (MSPs), which are handled by state Medicaid offices. Your state Medicaid office also manages the Program of All-Inclusive Care for the Elderly (PACE) and can help with info on how to qualify and apply.

Can I request a change to my IRMAA?

Yes. If you had an event that caused your income to go down, you can request a reduction in your IRMAA. You can complete Form SSA-44 and mail or bring it to your local Social Security office, or call Social Security at 800-772-1213 (TTY 800-325-0778) for info.

How much do prescriptions cost with Medicare in 2024?

For individuals who earn less than $22,590 per year, the Extra Help program limits the cost of generic prescriptions to $4.50 and the cost of brand-name prescriptions to $11.20 each. For others, the cost of prescriptions is based on the Medicare Part D plan you choose.


Sources

Information on Medicare income limits, Medicare Savings Programs and the Extra Help program was from several sources, including Medicare.gov, CMS.gov, SSA.gov, Benefits.gov, IRS.gov, the Medicare Payment Advisory Commission (MedPAC) and the National Council on Aging (NCOA).

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