Lost Your Job, But Have a High Medicare Premium?

Over 16 million Americans have filed for unemployment benefits over the last few weeks, and many of those are seniors, And to a senior citizen, loss of job at this age might be enough to push them into permanent retirement. But, there’s a gremlin lurking out there in the form of a higher than standard Medicare Part B premium, which may not be warranted if the pandemic has caused your income to tank. The Income Related Medicare Adjustment Amount (IRMAA) adds a supplement to the standard premium for higher income beneficiaries, and if you’re no longer a higher income beneficiary it’s time to let Medicare know so they can adjust your Medicare premium downward. This is done using form SSA-44 and claiming a life changing event, as fully explained in this Forbes article by Diane Omdahl.  Click here to read more.

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or socialsecurityreport.org.


What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers