Understanding IRMAA

IRMAA is an acronym for Medicare’s income-related monthly adjustment amount (IRMAA). This is a higher premium charged by Medicare Part B and Medicare Part D to individuals with higher incomes. The majority of people who receive Medicare benefits when they reach age 65 will never have to worry about IRMAA since it only affects less than five percent of people with Medicare. For those individuals, they are often surprised or, they are unclear about how it works. The attached article reviews Medicare IRMAA and how to avoid it. Read the article here…

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