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In 2022, IRMAA will adjusted adjusted gross income Over $91,000. For a married couple filing a joint tax return, the surcharge exceeds her $182,000. The surcharge increases with higher income thresholds. (See chart below.)
This year’s Part B surcharge ranges from $68 to $408.20 depending on your income. Based on this year’s standard monthly premium of $170.10, IRMAA-affected beneficiaries will pay premiums ranging from $238.10 to $578.30.
For Part D, the 2022 surcharge ranges from $12.40 to $77.90. This is in addition to the premiums you pay through a standalone prescription drug plan or through a Medicare Advantage Plan, which typically includes Part D coverage. These premiums may vary by plan.
The Centers for Medicare & Medicaid Services has not yet announced the 2023 amounts for various costs associated with the program. This includes IRMAA income thresholds and the exact amount of additional fees associated with each bracket.
According to the latest data, 5.3 million Medicare beneficiaries paid Part B IRMAA this year, and an estimated 6.8 million will do so in 2023. Medicare Trustee ReportUnder Part D, 4.5 million beneficiaries will be covered by IRMAA this year, and an estimated 5.8 million will pay additional fees in 2023.
If you think your new income won’t pay the extras, or at least will, it’s worth appealing. It cannot be done before the Department has sent you a “Benefits Determination”.
Daniel Roberts, co-founder of insurer Boomer Benefits, said, “Bills for standard premiums were sent to beneficiaries immediately after joining Part B, and a second bill with IRMAA added a few weeks later. I often see .
“The Social Security Administration has not made its first decision in time for the IRMAA to produce its first premium bill and is unwilling to seek reconsideration of a decision that has not yet been made. said Roberts.
The process of proving your current low income includes asking the Social Security Administration to reconsider your assessment.surely fill out the form and provide supporting documentation.
Appropriate evidence includes a recent tax return (if available), a letter from a previous employer stating that you have left the company, a recent pay stub, or similar showing that your income has decreased. may be
Required forms include “life-changing” events that qualify as reasons for reducing or removing IRMAA, including marriage, death of a spouse, divorce, loss of pension, or the fact that you quit your job or have reduced hours There is a list of