The 2018 Medicare Part B and Part D premiums are released annually in late November. Below is a chart showing the rates, which are calculated by Social Security based on Adjusted Gross Income. For two people, multiply by two.

In some cases, Social Security sends a “initial” letter stating the beneficiary’s premium is the lowest amount of $134 a month but the person actually makes over $85,000. A few days later, the second letter arrives from Social Security stating the correct amount. Social Security also tries to bill so the person is on a quarterly payment schedule if he/she is not receiving Social Security. If a person is receiving Social Security, the Part B and possible Part D premium is deducted monthly from that payment.