How can I avoid or reduce IRMAA charges on my Medicare premiums?

Answered by 5 licensed agents

IRMAA's income tables for singles and married couples filing jointly are pretty cut and dry. They are designed to share these expenses with individuals whose incomes exceed those of regular Medicare patients. In a professional opinion from an agent, the agent can only explain how these tables are set up, but the individual’s CPR or tax attorney can lay out alternative options.

Answered by Larry Dalton on April 2, 2025

Broker Licensed in OK & TX

Answered by Larry Dalton Medicare Insurance Agent
The fact is IRMAA charges are calculated based on your AGI (Adjusted Gross Income) from 2 years ago. Know this may give you and your tax accountant time to do some financial planning that will help you pay less IRMAA charges when the time comes. You can do a Google search to see the levels of additional IRMAA charges that will be added to your base Medicare premium.

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 Jeff Christiansen Medicare Insurance Agent
you avoid or reduce IRMAA charges on my Medicare premiums? By lowering your taxable in prior to taking medicare two years before 65 or submit Monthly Adjustment Amount form (life-changing event)

Answered by Ben Washington on March 31, 2025

Broker Licensed in IL, FL, MN, SC, TX & WI

Answered by Ben Washington Medicare Insurance Agent
To potentially avoid or reduce IRMAA (Income-Related Monthly Adjustment Amount) charges on your Medicare premiums, focus on strategies to lower your Modified Adjusted Gross Income (MAGI), such as making tax-deductible retirement contributions, charitable donations, and strategically timing income and withdrawals.

Answered by Steve Houchens on April 2, 2025

Agent Licensed in KY & TN

Answered by Steve Houchens Medicare Insurance Agent
Yeah, IRMAA can be a surprise hit to your Medicare premiums if your income’s above a certain level. But there are a few ways to either avoid it or bring it down.

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

Answered by Randy Hill Medicare Insurance Agent

Tags: Advice for Seniors New To Medicare The Medicare System

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