Planning around Income-Related Monthly Adjustment Amount (“IRMAA”) surcharges has become more important as the Medicare premium increase amount has grown in recent years. While on the surface the concept is pretty straightforward, there are a few issues that can cause an unexpected wrinkle. It can be difficult to avoid pitfalls, and to recognize when you may be able to request an exception from the IRMAA surcharge.
This flowchart addresses some of the most common issues that arise while on Medicare, including:
- IRMAA surcharges for Part B and Part D based on MAGI ranges
- Situations to request an exception and the form to complete
- Relevant tax year for the surcharge calculation
