IRMAA stands for the Income-Related Monthly Adjustment Amounts. IRMAA can apply to Medicare Part B (medical insurance) and Medicare Part D (prescription drug coverage).
The IRMAA amounts may apply if your income is higher than a certain level. The government looks at your income as reported on your taxes two years ago.
How much are the IRMAA amounts for Part D and Part B?
This table lays out how much the IRMAA adjustments are for Medicare Part D and Part B as of 2019. It’s based on your 2017 income taxes. The government looks at your modified adjusted gross income from two years before the current year.
|Modified adjusted gross income/ tax filing category|
|Individual||Married, filing jointly||Married, filing separately||Your monthly Medicare Part B premium may be||The amount added to your monthly Medicare Part D premium may be|
|$85,000 or less||$170,000 or less||$85,000 or less||$135.50||$0|
|$85,001 – $107,000||$170,001 – $214,000||N/A||$189.60||$12.40|
|$107,001 -$133,500||$214,001 – $267,000||N/A||$270.90
|$133,501 – $160,000||$267,001 – $320,000||N/A||$352.20||$51.40|
|$160,001 to less than $500,000||$320,001 to less than $750,000||$85,001 to less than $415,000||$433.40||$70.90|
|$500,000 or above||$750,000 and above||$415,000 and above||$460.50||$77.40|
How will I know if I have to pay an IRMAA adjustment for Part D and Part B?
If you’re required to pay an IRMAA amount, you’ll get a notice from Social Security. The notice is called an “initial IRMAA determination.”
Generally, you don’t have to do anything, although it would be a good idea to review the notice to make sure it’s correct and keep it for your records. For most people, the Medicare Part B IRMAA amount is added to your premium and automatically deducted from their Social Security benefits. The Medicare Part D IRMAA, if it applies to you, will be added to your Part D premium.
If your income level drops, you can file an appeal with Social Security. The instructions for filing an appeal are on your IRMAA determination letter.
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