The standard Medicare Part B premium for medical insurance in 2020 is $144.60.
Some people who collect Social Security benefits and have their Part B premiums deducted from their payment will pay less. This is because their Part B premium increased more than the cost-of-living increase for 2020 Social Security benefits. Social Security will send a letter to all people who collect Social Security benefits (and those who pay higher premiums because of their income) that states each person’s exact Part B premium amount for 2020.
Since 2007, higher-income beneficiaries have paid a larger percentage of their Medicare Part B premium than most. Depending on their income, these higher-income beneficiaries will pay premiums that amount to 35, 50, 65, or 80 percent of the total cost of coverage. You can get details at Medicare.gov or by calling 1-800-MEDICARE (1-800-633-4227) (TTY 1-877-486-2048).
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