How to plan for IRMAA

Ninety-five percent of Medicare beneficiaries don’t have to worry about paying more than the standard rate for their Medicare Part B and Part premiums.  However, those taxpayers who had modified adjusted gross income (MAGI) greater than $87,000 for single in 2018 and $174,000 for couples in 2018 will pay the standard premium amount plus Income Related Monthly Adjustment Amount or IRMAA.  So, what is MAGI and IRMAA and what does it mean to you? Read attached article here…to find out.

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