Fortune January 28, 2024
Most people on Medicare will pay about $2,100 in Part B premiums this year. But high-income beneficiaries will get socked owing as much as $6,708 instead, due to the surcharge they’ll pay known as IRMAA (Income-Related Monthly Adjustment Amount)—except, that is, for a select group who are IRMAA exempt.
Who are those people and how can they avoid paying the IRMAA surcharge assessed for Medicare beneficiaries whose 2022 modified adjusted gross incomes exceeded $103,000 ($206,000 for couples)?
They’re former workers for the federal government and sometimes ex-state government employees.
When the IRMAA surcharge doesn’t kick in
But their exemption isn’t really about a way for them to skate pass the IRMAA surcharge, which was enacted by Congress in 2003. They...
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