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“IRMAA” may make you pay more for Medicare this year - Motley Fool
“IRMAA” is an acronym for the “Income -Related Monthly Adjustment Amount” – a somewhat obscure Medicare rule which catches many seniors by surprise. IRMAA affects those who are on Medicare and who have a higher taxable income from two years prior. For example, taxable income from 2024 may affect your 2026 Medicare Part B or Part D premium. Basically, those who file with the IRS as a single with a taxable income of $106,000 or less pay the standard Part B premium of $202.90 in 2026. But if their 2024 income was over $106,000 they will pay an additional monthly amount for Medicare Parts B and D. And those who file with the IRS as married/jointly and whose combined income is over $202,000 will also pay more than the standard month $202.90 premium for Part B. And the IRMAA supplements are progressive, in that the more your combined income exceeds the threshold for your filing status, an even higher supplement will be added to you Part B and Part D Medicare premiums. All of this is explained in this Motley Fool article by Maurie Backman.
If you’re unsure about how these basics apply to you, or if you have any questions about your individual situation under Social Security or Medicare, note that the AMAC Foundation provides a free-to-the-public advisory service to help Americans navigate the complexities of these programs. All questions are answered quickly, at no charge. Learn more about it here…