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  • What Is Irmaa And Am I Eligible For An Adjustment?

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Form SSA44 (122024) Discontinue Prior Editions Social Security AdministrationPage 1 of 8 OMB No. 09600784Medicare IncomeRelated Monthly Adjustment Amount LifeChanging Event If you had a major lifechanging.

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The income-related monthly adjustment amount (IRMAA) sliding scale is a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. The higher the beneficiary's range of modified adjusted gross income (MAGI), the higher the IRMAA.

Understanding IRMAA and Its Reimbursement Process If you've been paying more than the standard amount for your premiums, you might be eligible for an IRMAA refund. Let's dive into how this process works. If you're a retiree or have dependents who are qualified for Medicare, then you can be pleased.

The Social Security Administration (SSA) sets four income brackets that determine your (or you and your spouse's) IRMAA. SSA determines if you owe an IRMAA based on the income you reported on your IRS tax return two years prior, meaning two years before the year that you start paying IRMAA.

The income-related monthly adjustment amount (IRMAA) sliding scale is a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. The higher the beneficiary's range of modified adjusted gross income (MAGI), the higher the IRMAA.

Monthly Medicare Premiums for 2024 Modified Adjusted Gross Income (MAGI)Part B monthly premium amount Individuals with a MAGI of less than or equal to $103,000 2024 standard premium = $174.70 Individuals with a MAGI above $103,000 and less than $397,000 Standard premium + $384.301 more row

The Medicare Income-Related Monthly Adjustment Amount (IRMAA) is an amount you may pay in addition to your Part B or Part D premium if your income is above a certain level. The Social Security Administration (SSA) sets four income brackets that determine your (or you and your spouse's) IRMAA.

IRMAA is determined by income from your income tax returns two years prior. This means that for your 2024 Medicare premiums, your 2022 income tax return was used. And for your 2025 premiums, your 2023 tax return will be used. IRMAA applicability and amounts are recalculated annually.

Their 2024 Medicare Part B total premium will be $244.60 per month (base premium of $174.70 + IRMAA surcharge of $69.90). Their 2024 Medicare Part D total premium will be the base policy cost (a.k.a. “Plan Premium”) + a surcharge of $12.90 per month.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232