Understanding The Medicare Income-Related Monthly Adjustment Amount (IRMAA)

 

The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an additional amount that some people with higher incomes must pay in addition to their Medicare Part B premium. The IRMAA is calculated based on your modified adjusted gross income (MAGI) as reported on your IRS tax return from two years ago.

The amount of the IRMAA depends on your income and filing status. For example, in 2023, if you are single and your MAGI is above $97,000, you will pay an additional $230.80 per month for Part B. If you are married filing jointly and your MAGI is above $194,000, you will pay an additional $461.60 per month for Part B.

You can avoid paying the IRMAA if you qualify for Extra Help, which is a program that helps low-income people pay for Medicare premiums and other health care costs. You can also avoid paying the IRMAA if you are enrolled in a Medicare Advantage plan that does not charge an IRMAA.

If you are not sure if you have to pay the IRMAA, you can contact your local Social Security office or the Medicare helpline.

Here are some additional things to keep in mind about the Medicare Part B IRMAA:

• The IRMAA is calculated every two years. This means that your IRMAA status can change if your income changes.
• If you believe you should not pay the IRMAA, you can appeal the decision. You can find more information about appealing the IRMAA on the Medicare website.