No matter what you’ve been told, Medicare’s Income-Related Monthly Adjusted Amount (IRMAA) is more than just a minor surcharge for retirees. IRMAA happens to represent a progressive tax on income that will significantly impact your retirement budget and bottom line later in life Granted, many in the financial industry, like your financial advisor and CPA, […]
The Centers of Medicare Services (CMS) is reporting that 2025 IRMAA and Medicare Costs will fall in line with the projections of the Board of Trustees. This is extremely good news as health insurers will have the correct pricing for coverage during the Annual Enrollment Period which will help many retirees. That bad new, however
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Impact of IRMAA on your Social Security benefit In retirement when it comes to your health insurance there is only one option especially if you are no longer covered by creditable health coverage from an employer and that is Medicare. Thankfully, Medicare is fantastic form of health coverage if you are properly insured and utilize
