How the IRMAA Surcharge is Calculated The Income Related Monthly Adjustment Amount (IRMAA) is, simply, a surcharge on top of the current year’s Medicare Part B and Part D premium for those who earn too much income while in retirement. The brackets that determine how much of a surcharge is to be added are as […]
The Income Related Monthly Adjustment Amount, better known as IRMAA, is a surcharge that is added to the current year’s Medicare Part B (hospital coverage) and Part D (prescription drug coverage) premiums for those who have earned “too much” income in a given year. The income that used to determine Medicare’s IRMAA is defined by
Medicare Projections how high can the premiums go? If you are or ever plan to retire there is one absolute: Medicare. Federal law states that anyone eligible for Social Security benefits must also accept Medicare Part A when eligible. Failure to do so results in the forfeiture of current, future, and past Social Security benefits.