2023 Medicare Part D premiums

Since Jan. 1, 2012, all Medicare-eligible retirees enrolled in the School Employ­ees’ Health Benefits Program (SEHBP) are automatically enrolled in the state-selected Medicare prescription plan, which is cur­rently OptumRx. This program includes the Medicare-eligible retiree to be enrolled automatically in Medicare Part D.

While there is no standard Medicare Part D cost associated with the program, enrollees whose incomes exceed the legis­lated threshold amounts – $97,001 in 2021 for a beneficiary filing an individual income tax return or married and filing a separate return, and $194,001 for a beneficiary fil­ing a joint tax return—will pay a monthly, income-related payment. Please see the chart at right for specifics.

The Social Security Administration uses the income reported two years ago to deter­mine the Part D beneficiary’s payment. In other words, the income reported on a beneficiary’s 2021 tax return is used to determine whether the beneficiary must pay a monthly, income-related payment in 2021. If a beneficiary’s income decreased signifi­cantly in the past two years, he/she may request that information from more recent years be used to calculate the payment.

For those members receiving post-retire­ment medical benefits paid for by the State of New Jersey, the monthly, income-related payment for both them and their depen­dents is reimbursed at the end of the year in which the payment is paid, only after the proper paperwork is filed with the NJ Division of Pensions and Benefits. Notice on how to file for any income-related adjust­ment reimbursement is sent to retirees, as well as being posted on the NJ Division of Pensions and Benefits website, by early February.

If you have questions about your Medicare Part D monthly income-related payment, call 800-MEDICARE (800-633- 4227). Any questions regarding the reim­bursement process should be directed to the NJ Division of Pensions at 609-292-7524.

Income level for singlesIncome level for joint filers2023 premiums
$97,000 or below$194,000 or below$0.00
$97,001 to $123,000$194,001 to $246,000$12.20
$123,001 to $153,000$246,001 to $306,000$31.50
$153,001 to $183,000$306,001 to $366,000$50.70
$183,001 to $499,999$366,001 to $749,999$70.00
Above $500,000Above $750,000$76.40