I've heard about IRMAA affecting my Medicare premiums. How can I find out if it applies to me, and how does it work?
Answered by 4 licensed agents
Answered by Lea Ayres on March 12, 2025
Broker Licensed in PA, CT, MD & 8 other states
Medicare looks at your income from two years back - so in 2025, they’re using your 2023 tax return. If your income was over a certain amount, you’ll pay extra for Part B and Part D. And no, it’s not always a small bump - it can be a few hundred bucks more per month depending on your income level.
You’ll get a letter from Social Security if IRMAA applies. The timing of that letter? Let’s just say it's government issued and doesn’t always conveniently show up BEFORE you’ve already picked your plans and thought you had your costs locked in.
If you’re not working with someone who brings this up ahead of time, that Social Security letter is not a fun one to open. That’s why it helps to trust your advisor who’s actually looking ahead - not just plugging in plan info or letting you go at it alone.
The good news? If your income has gone down if you just retired, sold a business, or lost a spouse - you can appeal it using form SSA-44 to get those premiums adjusted.
If your 2023 income was over $103,000 (single) or $206,000 (married filing jointly), it’s worth looking into. If not, you’re probably good. Either way, the key is catching it before you’re stuck wondering why your Medicare bill just jumped.
Answered by Corey Romero on March 21, 2025
Broker Licensed in LA & TX
Answered by Gregg Matheny on March 26, 2025
Agent Licensed in AZ & UT
Answered by Tyler Henderson on March 31, 2025
Agent Licensed in FL
Tags: Advice for Seniors The Medicare System
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