What is IRMAA (Income Related Monthly Adjusted Amount) ???

It represents an increase to Medicare Part B and Part D standard monthly premiums and is determined by the Social Security Administration. 

money

IRMAA is based on your Modified Adjusted Gross Income (MAGI) from two years ago.
In other words, the 2023 IRMAA brackets are based on your MAGI from 2021.
If the 2021 amount is not available, your 2020 MAGI is used. Below are the brackets and what you will pay based upon your tax returns.

irmma chart

This chart will tell how much you will pay for your part B Premium and your part D premium. This lasts for one year.

This is important to know if you ever inherit money, or sell something of value and have to claim on your taxes. 

If you have any questions please call me at 828-400-1829.

Thank you and take care.

Norm

Contact

828-400-1829

n.morris@whycornerstone.com

110 Heywood Rd #5B Arden, NC 28704

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