Medicare

Guide to the IRMAA Exemption Form (SS-44)

Medicare beneficiaries with higher incomes are subject to an additional charge on their Part B and Part D premiums, known as the Income-Related Monthly Adjustment Amount (IRMAA). This surcharge is based on modified adjusted gross income (MAGI) from past tax returns. Read more about IRMAA here: Understanding IRMAA: What It Is and Its Impact on Medicare Premiums – Gilbert WealthHowever, if you've experienced a significant life-changing event, such as retirement or a reduction in income, you may qualify for a reduction in your IRMAA. Form SSA-44 allows you to report such events and request an adjustment to lower your Medicare…
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Understanding IRMAA: What It Is and Its Impact on Medicare Premiums

Medicare’s income-related monthly adjustment amount, commonly referred to as IRMAA, is an additional premium that applies to higher income individuals enrolled in Medicare. The purpose of IRMAA is to have higher-income beneficiaries pay more toward their healthcare coverage than lower-income beneficiaries.This article explains what it is, when it applies, and what you can do about it. What is IRMAA? IRMAA is an additional premium charge added to your Medicare Part B and Part D premiums when your income exceeds certain thresholds.  When Are You Subject to IRMAA? The Social Security Administration (SSA) uses a Modified Adjusted Gross Income (MAGI) to…
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