2021 MEDICARE PREMIUMS
Rates for 2021 Medicare Part A and Part B
The Centers for Medicare and Medicaid Services (CMS) have announced Medicare premium rates for 2021. CTPF Trustees voted to provide a 60% health insurance premium subsidy in 2021. The subsidy is set annually and has been at 50% since 2015.
|Medicare Plan||2021 Cost||CTPF Subsidy amount|
|Medicare Part A with 40 quarters||$0||$0|
|Medicare Part A with 30-39 quarters||$259||$155.40|
|Medicare Part A with Less than 30 quarters||$471||$282.60|
|Medicare Part B Standard Premium||$148.50||$87.30|
Members who retire with a benefit effective date of July 1, 2016, or later, are not eligible for a Medicare Part A subsidy.
2021 Medicare Part B
The standard premium for 2021 will be $148.50 (which includes a $3.00 service charge that CTPF does not subsidize). This is a $3.90 increase from the 2020 amount. CTPF will provide a subsidy of $87.30 per month for all qualified members. If you make Part B payments directly to Medicare, CTPF provides the subsidy by adding $87.30 to your monthly pension benefit.
Some members are subject to IRMAA fees. CTPF does not subsidize Part B service charges, late enrollment penalties or Part B IRMAA amounts. All CTPF members receive the same Part B subsidy.