NEW TO MEDICARE?Learn what you need to know in 15 min or less. How is IRMAA calculated? IRMAA is calculated based on tax brackets. See the chart below to find how much your IRMAA payment will be in 2025. If your filing status and yearly income in 2023 was File individual tax return...
2024 Medicare Part D IRMAA brackets. What is IRMAA? The Medicare income-related monthly adjustment amount (IRMAA) is a surcharge on Medicare Part B (medical insurance) and Part D prescription drug plan premiums. It applies only to Medicare beneficiaries with a modified adjusted gros...
Unlike how our tax brackets function, Medicare income thresholds are a true cliff. You could be $1 over the $206,000 threshold and that’s all it takes to increase your premiums for the year! As mentioned previously, your Part B and D premiums are base...
THIS IS THE LAST year that my income won’t affect my Medicare premiums. At issue is IRMAA, or income-related monthly adjustment amount, which is the premium surcharge for Medicare Part B and Part D if you exceed certain income thresholds. The surcharge is based on your modified adjustment...