What you should know if you decide to enroll in Medicare

The COVID-19 pandemic is having a histrionic impact on employment in the United States and around the world.   For those individuals over age 65 who have lost their jobs, they may decide to retire and enroll in Medicare but there is something you should know about your premiums.  After you enroll in Medicare, Social Security consults the IRS to review a past income tax statement, generally from two years ago, and based on your Modified Adjusted Gross Income, or MAGI,  you may receive a letter from Social Security stating you are subject to Income-related Monthly Adjustment Amount or IRMAA. If you find yourself in this situation, the attached article reviews what is IRMAA and what you can do about it. Read article here…

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