Thanks for explaining this to people just beginning to navigate Medicare. Due to my wife's very high income 2 years prior, my premium my first year 2022 was the highest possible. But she had just retired so I filed the IRMAA. However sinice she retired in May of 2022, we just got hit again so we filed IRMAA a second time (her first). The good news is that both times, we were notified within just a few weeks that our premium was again back down to the $174 mark. Surpisingly the SS office where I took the forms both times really handled it quickly. We thought it would take months but suprisingly they were very efficient. This will be the last time since 2022 was her last year of work.

@BoomerBenefits

5 ай бұрын

We love to hear about successful stories of appeals. So glad it worked out for you both!

Thank you for your advice and efforts,,,🙏🙏🌷🌷👏👏

@BoomerBenefits

5 ай бұрын

anytime! thanks for watching :)

As a 2 person household filing jointly do we both have to pay the upcharge to Medicare Part B for an elevated income. We sold our home and that income was reflected on our 2022 tax return.

@BoomerBenefits

3 ай бұрын

Yes, if you file your taxes jointly it will be applied to both Part B and Part D premiums

Thanks again. Lost my job, and expected to pay higher Part B (i have Part C too) based on last year income. Appealed and mentioned that and dependent in college. Got a call from local SSN office to clarify my estimated income this year as i made a decimal mistake, and she said the would reduce to minimum. Unsure though what happens if my income goes up though this year...assume they might back bill me ;)😅

@BoomerBenefits

5 ай бұрын

Best of luck! We are glad that the local office was able to help clarify!

this is valuable information.

@BoomerBenefits

5 ай бұрын

Thank you for watching!

Thank you for the information. Can you elaborate more on how two years lookback calculation work? For instance, I have very high income in 2022 due to the Roth IRA conversion and normal salary work income in 2023. and in 2024. If I retire early 2025, will my 2023 and 2024 incomes are used for the IRMMA calculation?

@BoomerBenefits

5 ай бұрын

Hi Charles - it will be a review of your 2023 income for 2025.

In the end, do I pay the same total amount of premiums whether or not I file form SSA-44? It seems SSA-44 just accelerates something that happens automatically, with no net savings in the end.

@BoomerBenefits

5 ай бұрын

By filling out the SS-44 form, you can save yourself from paying the higher premium.

If I am doing '23 taxes now which affect '25 Irma, do I have to wait till the letter comes at year end? At present we don't know the adjusted limits so I am not sure where I would fall yet. Spouse retired mid year in '23 so our income will be changing

@butopiatoo

5 ай бұрын

You can file based on your 2023 income to reduce your 2024 IRMAA based on your 2022 income IF YOU MEET one of the eight Life-Changing Events. Work stoppage is one.

@BoomerBenefits

5 ай бұрын

You will want to wait until you know the limits for 2025 :)

Filed appeal four months ago. Not a word from SSA!

@BoomerBenefits

5 ай бұрын

We recommend calling to check this. It should not take much longer than 6-8 weeks.

Wonder if you can address: I paid for Part B for the next 6 months. If I go back to work and get benefits from my employer, I can cancel Part B but how do I get the remaining payments back? I assume there is a form :) I do not even see on their website how to cancel Part B (or do I do it with UHC who I have Advantage)? Thanks.

@BoomerBenefits

3 ай бұрын

Hi there - yes, you will receive a refund. You will want to give Social Security a call and they can walk you through the process.

I’m not an Senior but I have an Disability. They Enrolled me in Medicare which I have to pay a premium each month. I also receive Medicaid through the states which I don’t have to pay for anything. What can I do about this?

@BoomerBenefits

3 ай бұрын

You will want to call Social Security to see about Medicaid paying your premiums.

Question: I applied for SS recently and was approved. I thought my payment would begin in February, 2024. In December, 2023, I paid the quarterly Medicare premium of $524.10 ($174.70 x 3), which would cover January-March 2024. I was under the impression that my first SS check would be issued end of February 2024, based on my birthday being August 26, 1957. And that because I prepaid the Medicare premium through March 2024, my first SS check would not deduct the Medicare premium, as it was already paid. I received a letter from SS that my amount would reflect the $174.70 deduction, and it would not be issued until March, 2024. If my 66 1/2 FRA is in February 2024, does that mean my SS doesn’t get issued until the following month in March? And if so, why are they reducing it by the premium I’ve already paid? Is there something I’m not understanding, or is there an error I need to address with SS?

@probablynot1368

5 ай бұрын

This looks like a one month overlap in money paid plus money deducted. Contact SS to discuss a refund of the overpayment.

@BoomerBenefits

5 ай бұрын

You will be refunded the overpayment amount. Typically this is automatic, but you might want to contact SSA to find out when you will receive it.

I will be selling a rental property this year for a profit. Will this affect my IRMAA for 2026 or 2027?

@BoomerBenefits

Ай бұрын

Hi there, capital gains from the sale of real estate are counted in your MAGI (modified adjusted gross income) and can impact what you pay two years from now.

Do I have to wait for the benefits determination letter if I know with certainty that my 2022 income will force the adjustment? Or can I just file the appeal now as I am in my initial enrollment period and coverage won't start until June? I'm trying to avoid having to have the first few payments be higher than necessary and then waiting for a refund.

@BoomerBenefits

5 ай бұрын

You can file it sooner than later, but it wont process through correctly until SSA knows of the higher premium

I hardly fall sick. Is it OK to enroll for Part B only, and not Part D? So, I will have Part A and Part B, but not Part D.

@BoomerBenefits

5 ай бұрын

Hi there - you can forgo Part D, but if in the future you were to need a drug plan, you would have to wait until the Annual Election Period and also have a lifetime penalty. You can read more here - boomerbenefits.com/medicare-late-enrollment-penalty/