Avoiding the IRMAA Penalty

Attention, high-income earners! If you’re enrolled in Medicare, you may be subject to the Income-Related Monthly Adjustment Amount (IRMAA). This could mean higher premiums for your Medicare Part B and Part D plans, which will reduce your Social Security payments.

 

Remember, IRMAA isn’t a one-time fee; it’s a monthly charge that is based on your modified adjusted gross income from two years ago. Need help navigating these waters?

 

Watch our video to understand the ins and outs of IRMAA and how it may result in a surcharge on your healthcare costs.

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