Part D premiums by income
The chart below shows your estimated prescription drug plan monthly premium based on your income as reported on your IRS tax return. If your income is above a certain limit, you'll pay an income-related monthly adjustment amount in addition to your plan premium.
2020
| If your filing status and yearly income in 2018 was | |||
| File individual tax return | File joint tax return | File married & separate tax return | You pay each month (in 2020) |
|---|---|---|---|
| $87,000 or less | $174,000 or less | $87,000 or less | your plan premium |
| above $87,000 up to $109,000 | above $174,000 up to $218,000 | not applicable | $12.20 + your plan premium |
| above $109,000 up to $136,000 | above $218,000 up to $272,000 | not applicable | $31.50 + your plan premium |
| above $136,000 up to $163,000 | above $272,000 up to $326,000 | not applicable | $50.70 + your plan premium |
| above $163,000 and less than $500,000 | above $326,000 and less than $750,000 | above $87,000 and less than $413,000 | $70.00 + your plan premium |
| $500,000 or above | $750,000 and above | $413,000 and above | $76.40 + your plan premium |
Late enrollment penalty:
You may owe a late enrollment penalty if, for any continuous period of 63 days or more after your Initial Enrollment Period is over, you go without one of these:
- A Medicare Prescription Drug Plan (Part D)
- A Medicare Advantage Plan (Part C) (like an HMO or PPO) or another Medicare health plan that offers Medicare prescription drug coverage
In general, you'll have to pay this penalty for as long as you have a Medicare drug plan. The cost of the late enrollment penalty depends on how long you went without Part D or creditable prescription drug coverage.
Deductibles, copayments, & coinsurance:
The amount you pay for Part D deductibles, copayments, and/or coinsurance varies by plan.