The Affordable Care Act brought a lot of changes to the Medicare program, including a new Part D premium adjustment for people who reported higher incomes on their tax returns. The income-related monthly adjustment amount, or IRMAA, now applies to both yourMedicare Part Dand Part B premiums....
When you enroll in Medicare, you'll initially pay the standard Part B premium and your Part D premium until Social Security receives your income data from the IRS. If your income is high enough for IRMAA to apply, Social Security will mail a predetermination notice[0] Centers ...
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 gross income from two years earlier. Like almost all retirees, I’ll begin...
Medicare Part B Premiums Based on MAGI and IRMAA The standard Part B premium amount is shown below. If your Modified Adjusted Gross Income, as reported on your IRS tax return from 2 years ago, is above the threshold, then the IRMAA (Income Related Monthly Adjustment Amount) assessment incre...
IRMAA stands forIncome Related Monthly Adjustment Amount. It’s a surcharge on Medicare’s base premium for parts B and D. The government uses information from the IRS to determine if you must pay more for Medicare as well as IRMAA surcharges and how much to take out of your Social Sec...
. Since Medicare Part D premiums vary by the plan you’ve chosen from independent insurers (and not a prescibed amount like Medicare Part B), at each IRMAA income level there is an increase, or surcharge, applied to whatever your monthly Part D premium is. Single Married Filing Jointly ...