Golden sunsets
Thinks s/he gets paid by the post
- Joined
- Jun 3, 2013
- Messages
- 2,524
Hey folks; I wondered if anyone else on this forum is in our position. We just received our SSA Statement for 2021 this morning which confirmed as we had expected, IRMAA related Part B Premiums for Medicare of $297 per month for each of us next year, rather than the $148.50 basic premium for those who do not exceed the income threshold.
Having successfully filed a From SSA-44 a few years ago, due to a one time Capital Gain from the sale of my business, which reversed the assessed IRMAA in that year, I had been thinking about filling out the SSA-44 again, as we are not taking any RMD's this year and that fact brings our income below the income threshold requiring the higher premiums. I thought it probably wouldn't work, but felt it was worth a try.
I decided to google the concept and surprisingly came up with the attached statement (https://www.smsteam.net/cares-act-could-save-your-clients-irmaa-penalties/) from one financial products company out there. Just because there is one company out there that is advising their clients to file the Form SSA-44, doesn't mean that the IRS will accept the application and reduce the premiums, but it does give me some hope and I was wondering if others in this situation are considering filing the app?
Having successfully filed a From SSA-44 a few years ago, due to a one time Capital Gain from the sale of my business, which reversed the assessed IRMAA in that year, I had been thinking about filling out the SSA-44 again, as we are not taking any RMD's this year and that fact brings our income below the income threshold requiring the higher premiums. I thought it probably wouldn't work, but felt it was worth a try.
I decided to google the concept and surprisingly came up with the attached statement (https://www.smsteam.net/cares-act-could-save-your-clients-irmaa-penalties/) from one financial products company out there. Just because there is one company out there that is advising their clients to file the Form SSA-44, doesn't mean that the IRS will accept the application and reduce the premiums, but it does give me some hope and I was wondering if others in this situation are considering filing the app?
