How Much Does Medicare Part B Cost?

The Medicare open enrollment period for Medicare Advantage Plan starts on January 1 and lasts till March 31. This period is set to enable eligible individuals to join, switch, or even drop their current Medicare plans. Keep reading the article to learn more about this period and its benefits for changing your health insurance.

What Is Medicare Part B?

Before we learn how much does medicare part B cost, let's see what it offer. Medicare Part B is medical insurance that covers the following medical services:

  • doctors' services;

  • illnesses preventive screenings (exams, labs tests, etc.);

  • outpatient care.

Part B was created to cover the expenses on their services that Part A doesn't cover. Part B is typically optional, so patients can choose not to pay for this premium. 

If a person chooses to get Medicare Part B, they pay for the monthly premium. So, when you find out how much is medicare part B, it's an amount that you pay per month. However, a part B premium has its bonuses for some people. The coverage of part B will be automatically deducted from people's benefit payments if they get benefits from one of the mentioned organizations:

  • Office of Personnel Management.

  • Railroad Retirement Board.

  • Social Security.

You get a monthly bill to cover part B expenses if you don't get benefits from these organizations. Typically, people pay the standard premium amount. However, if a person's adjusted gross income is higher than a specific amount, they might pay the so-called IRMAA (Income Related Monthly Adjustment Amount).

Medicare needs an individual's adjusted gross income that they report to the IRS from two years ago. This data is the most recent tax return information that the IRS provides to Social Security. 

What Is The Cost Of Medicare Part B In 2022?

So, how much is medicare part B in 2022? As mentioned, there is a standard and adjusted amount, given the person's income. The AARP medicare part B cost in 2022 is $170.10 per month. 

However, suppose Social Security receives information from the IRS that your adjusted gross income two years ago was higher than a specific number. In that case, you also pay an Income Related Monthly Adjustment Amount (IRMAA). 

Do not be confused. People with incomes higher than the standard amount must pay the standard premium amount and IRMAA. So, IRMAA is an extra charge that Medicare adds to your monthly bill. 

Check out the table below to better understand how much you should be paying for 2022. Note: Using this table, you have to consider your income in 2020. As mentioned, the IRS sends data to Social Security from two years ago.

Profit in 2020 (that will affect Medicare in 2022)

Estimated monthly payment in 2022

Individual taxes

Joint taxes

Married & separate returns

$91,000 or lower

$182,000 or lower

$91,000 or lower


$91,001 to $114,000 

$182,001 to $228,000

Not applicable


$114,001 to $142,000

$228,001 to $284,000

Not applicable


$142,001 to $170,000

$284,001 to $340,000

Not applicable


$170,001 to $500,000

$340,001 and less than $750,000

$91,001 to $409,000


$500,001 and higher

750,001 and higher



And as for the question "how do I pay for Medicare part B?" you can pay online or use other means. For instance, you can subscribe to Medicare Easy pay or set up your bank account for automatic monthly payments. The last option is to mail your payments to Medicare. 

Medicare Part B Deductible

As for the deductibles in 2022, it's $233. Premium users must pay this mentioned amount before Part B begins helping to cover their health care expenses. However, this amount isn't applied to most Medicare-covered preventive care services.

Medicare Part B Coinsurance

What exactly is coinsurance in Medicare? It's a cost-sharing concept which means the costs are divided between the individual and the insurance. So, you pay a percentage, and the insurance provider pays a percentage.

In the case of Medicare Part B, an individual pays 20% to cover the expenses of the services they use. Suppose you had to visit a doctor, and the visit costs you $70. According to coinsurance, you must pay 20% of the $70, which is $14. The insurance provider covers the rest.

The good thing about Part B coinsurance is that it has no limits. It's a good idea to pay for optional Medicare Part B if you typically have many doctor appointments. Typically, these costs add up quickly and can eat a big hole in the budget. 

Now that you know how much is Medicare Part B, you should also be aware of a Medicare Advantage plan. According to this plan, the costs are different since they often include copays for doctor visits or other similar medical services. 

Note: this annual premium plan limits out-of-pocket expenses. If you use your annual insurance coverage, the plan won't cover extra costs. If Medicare part B pricing is still a concern, consider checking financial protection premiums. There are also other benefits that the Medicare Advantage plan offers. 

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