Life changing events that can lower your “income related monthly adjusted amount” (IRMAA)

Many Medicare beneficiaries believe that everyone pays the same amount for their Medicare Parts B and D, but that’s not true.  Social Security will send you a letter on how they arrived at the Part B and D premiums based on your ‘Modified Adjusted Gross Income” (MAGI) from your tax return dated two years ago. However, most retirees or individuals who have been laid off do not realize that they have special situations also known as life changing events that can lower their “income related monthly adjusted amount” (IRMAA). In Toni King’s column, she answers one of her readers question on how to lower their IRMAA amount.  Read her answer here…

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