Your Income Impacts What You Pay for Medicare | Part B & D

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What you pay for Medicare Part B and Part D depends on your income.

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Good information for those nearing retirement.

hardcor

Great info. Let's say that I got a share of inheritance of property, say, a check of $100K and that amount puts me and my wife over the IRMAA of 176K filing jointly on income tax, would that higher premium to Medicare be for one year or would it be for the rest of my life? I realize that you don't know all of the particulars about me, but roughly...

fredortiz

They don’t make it easy I will contribute more to a Roth. I just am finding out about this now about them going by your income for the last two years boy you really got a think about a lot of things before retiring. I’m only 57 right now, so I’m not retired but something to think about.

jo-annmacneill

Excellent and very helpful explanation of this! I am close to retirement, and may also be inheriting assets around the same time. Trying to plan for all of this.

yarnchickenkim

I got screwed and just filled out SSA-44 to ask for it to be reviewed. I wish I knew this in 2020.

russjazz

My mom is 71 and she has 5, 000 of 401k. She doesn't want to use it because she doesn't want to lose medicare A-B beucase both are sick. They also get Stamps . They need to use that money to fix their house and to get an electric scooter. can they use that money without losing everything they are getting ?

richardsan

Great info. No where near retirement but good to know now! Thanks!

vanessabarragan

How can we estimate the 2024 mfj IRMAA 1ST level so we know whether we are over or under for our 2022 income with roth conversions? And does a $3000 tax loss help reduce magi?

larryheaton

Hello, is the 88k for singles after the standard deduction or before the standard deduction?

JD-tntb

how do i find a good financial planer in my area

laura

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