How can I avoid or reduce IRMAA charges on my Medicare premiums?
Answered by 5 licensed agents
Answered by Larry Dalton on April 2, 2025
Broker Licensed in OK & TX
I'm an independent agent and am compensated for my services by the insurance companies. I never charge you additional fees for my services. I'm asked this question (IRMAA charges) quite often by higher income earners. You can contact me at 801-550-1800 to answer questions that will help you better understand what to expect.
Answered by Jeff Christiansen on March 27, 2025
Broker Licensed in UT, AR, AZ & 7 other states
Answered by Ben Washington on March 31, 2025
Broker Licensed in IL, FL, MN, SC, TX & WI
Answered by Steve Houchens on April 2, 2025
Agent Licensed in KY & TN
First, it all comes down to your income from two years ago, so if you can keep your taxable income under those limits, you’re golden. You can use Roth IRAs or Roth 401(k)s because money from those dont count toward your income, so it helps keep you under the radar. And if you’re taking money from traditional retirement accounts, you could think about converting some to Roth early on (before Medicare kicks in) to lower your future tax hits.
Also, if you’ve had a big life change like retirement, loss of a spouse, or a drop in income—you can actually appeal your IRMAA charge. You just fill out a form (SSA-44) and explain your situation.
Keep in mind the sale of a home with capital gains income can affect your IRMAA as well which could throw you into a higher income level.
Bottom line: it’s all about planning ahead. If you’re getting close to retirement or Medicare age, it’s worth sitting down with a tax or financial advisor and figuring out what moves you can make now to avoid that extra premium later.
Answered by Randy Hill on April 1, 2025
Broker Licensed in OH, AL, AZ & 7 other states
Tags: Advice for Seniors New To Medicare The Medicare System
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