How Much Will Your Medicare Part B Premiums Cost in 2016?

Some people already signed up for Part B could see a hike in premiums.

Close-up of a senior couple looking at each other smiling
(Image credit: Getty Images/Purestock)

How much will I have to pay each month for Medicare Part B in 2016? Will there be a huge jump in premiums, as originally predicted?

Your income is usually based on your last tax return on file, which would be your 2014 return, for 2016 premiums. But you may be able to get the high-income surcharge reduced or eliminated if your income has decreased since then because of certain life-changing events, such as the death of a spouse, divorce, retirement or reduced work hours. In that case, you can ask Social Security to use your more recent income instead. Contact the Social Security Administration, estimate your 2015 income, and provide evidence of the change, such as a marriage or death certificate, a signed statement of retirement from your employer, or pay stubs showing your reduced income. See Medicare Premiums: Rules for Higher-Income Beneficiaries (opens in new tab) for more information.

Swipe to scroll horizontally
How Much You'll Pay for Medicare Part B in 2016
Single Filer IncomeJoint Filer Income2016 Monthly Premium
Up to $85,000Up to $170,000$121.80 or $104.90*
$85,001 - $107,000$170,001 - $214,000$170.50
$107,001 - $160,000$214,001 - $320,000$243.60
$160,001 - $214,000$320,001 - $428,000$316.70
More than $214,000More than $428,000$389.80

* If protected by the hold-harmless provision

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%
https://cdn.mos.cms.futurecdn.net/flexiimages/xrd7fjmf8g1657008683.png

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of Kiplinger’s expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of Kiplinger’s expert advice - straight to your e-mail.

Sign up
Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.