For most, the 2017 monthly Medicare Part B premiums average $109. However, the basic premium increases to $134 a month for some people. The group that pays more includes individuals who first enroll in Part B for 2017 and folks who do not have premiums deducted from monthly Social Security benefits.
Upper-income seniors also pay more for Parts B and D coverage in 2017 if their modified adjusted gross incomes for 2015 exceeded $170,000 for joint filers or $85,000 for single people. Here, modified AGI is AGI plus any tax-exempt interest. For Part B, they pay the higher $135 basic monthly premium plus a surcharge. They also owe a surcharge on Part D premiums for prescription drug coverage. The combined surcharges on upper-incomers can be as large as $370.80 a month.
The income levels to qualify for the health premium credit in 2017 go up. It is available to filers with household incomes ranging from 100% to 400% of the federal poverty level…$11,880 to $47,520 for singles and $24,300 to $97,200 for a family of four…who buy health insurance through one of the exchanges. Individuals who are eligible for Medicaid or other federal insurance don’t qualify. Nor do individuals who can get affordable health insurance through their employers.