Are you going to be able to avoid IRMAA surcharges on Medicare parts B and D? IRMAA stands for Income-Related Monthly Adjusted Amount, and there are charges on both parts B and D based on where your income lands.

If you’re thinking about retiring any time soon, there are ways to manage your income to stay at a lower amount to avoid surcharges on your Medicare premiums.

In this episode of the Secure Your Retirement podcast, we take you through the IRMAA surcharges on Medicare part B and D over a glass of La Crema Chardonnay. Listen in to learn about the 3-layer IRMAA surcharge difference and which category you fall in. 

In this episode, find out:

●     Understanding what Income-Related Monthly Adjusted Amount represents in Medicare.

●     The meaning of Modified Adjusted Gross Income and why you need to know yours.

●     The IRMAA surcharge to pay if your income didn’t exceed 91k single or 182k married filed jointly.

●     When to file for a form SSA-44 and explain how a life-changing event affected your income.

●     The 3-layer IRMAA surcharges to pay if your income exceeds 91k single or 182k married filed jointly two years prior.

Tweetable Quotes:

●     “There’s a potential where you can have additional charges on your part B or D if you fit certain criteria when it comes to income.”- Murs Tariq

●     “With a little bit of planning, we can be able to think IRMAA through and what’s going to be beneficial to you.”- Radon Stancil

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit POMWealth.net/podcast.