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Had no trouble getting IRMAA reversed
Old 09-05-2020, 07:33 AM   #1
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Had no trouble getting IRMAA reversed

Wife got hit with IRMAA in 2020 for out MAGI income in 2018. Once my severance pay stopped in July, and I could provide paperwork that this years income would be below the Tier 1 threshold, I mailed in the SSA-44 form with copies of the supporting documents and in less than a month, got a response that a check for $630 was coming for this years IRMAA already paid and that the rate would drop back to normal the rest of the year.

Of course, I expect it to jump back up, in 2021 because 2019 income was even higher than 2018, and then once I file for 2020, proving lower income once again, I will have to go through the same thing again.

Just wanted to let people know that it is not that daunting an issue if your current MAGI income in retirement is actually below the IRMAA limits compared to when working.
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Old 09-05-2020, 07:43 AM   #2
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I've been retired for almost 10 years now and have been "IRMAA'd" (at tier 4) every year since going on Medicare... Talk about being unfair to the financially successful.
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Old 09-05-2020, 07:59 AM   #3
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Could a moderator add the following to one of the first FAQ posts on acronyms please?

IRMAA stands for income-related monthly adjustment amount. IRMAA is an additional amount that some people might have to pay along with their Medicare premium if their modified adjusted gross income (MAGI) is higher than a certain threshold.

Or did I miss it in the lists?

Thank you.
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Old 09-05-2020, 08:25 AM   #4
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Originally Posted by latexman View Post
Could a moderator add the following to one of the first FAQ posts on acronyms please?

IRMAA stands for income-related monthly adjustment amount. IRMAA is an additional amount that some people might have to pay along with their Medicare premium if their modified adjusted gross income (MAGI) is higher than a certain threshold.

Or did I miss it in the lists?

Thank you.
For those who don't know about IRMAA, the IRS will tell their friends over at the SSA and Medicare after you file your taxes each year, and they'll send you a nice letter explaining it all when you become eligible.

And they make it so convenient... You don't even have to send in a check each month... They'll take it out of your SS check/deposit each month before you get it just so you don't forget....Nice of them don't you think!
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Old 09-05-2020, 09:11 AM   #5
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Yea, our neighbor behind us lament the same thing. They pay Tier 4 as well. But then, again, they were trying to decide what to do with their $78,000 tax refund... join another country club or buy a 4th house in the mountains to get away from the heat, so I don’t guess it is much of a burden with that kind of income.

These are the same neighbors that decided they wanted a new 75” TV so they asked me if I wanted their “old” 2018 65” TOTL Sony OLED TV, or they would just have the installers haul it away....

It’s in my bonus room....
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Old 09-05-2020, 10:00 AM   #6
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We also were hit by IRMAA last year but got it reversed easily as well.
As soon as I retired mid 2019, I was able to show how (relatively) poor we would be going forward.
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Old 09-05-2020, 11:04 AM   #7
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Originally Posted by Car-Guy View Post
I've been retired for almost 10 years now and have been "IRMAA'd" (at tier 4) every year since going on Medicare... Talk about being unfair to the financially successful.
Everyone knows Rich folks require more medical care and more expensive drugs than poor folks, so it totally makes sense

I guess there are a number of these hidden welfare (charge more or give less to rich folks) programs than I ever considered.
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Old 09-05-2020, 12:40 PM   #8
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Everyone knows Rich folks require more medical care and more expensive drugs than poor folks, so it totally makes sense

I guess there are a number of these hidden welfare (charge more or give less to rich folks) programs than I ever considered.
No, rich folks get a smaller subsidy on their Medicare parts B and D.
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Old 09-05-2020, 12:42 PM   #9
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No, rich folks get a smaller subsidy on their Medicare parts B and D.
Exactly. The usual thing.
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Old 09-05-2020, 12:47 PM   #10
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I guess there are a number of these hidden welfare (charge more or give less to rich folks) programs than I ever considered.
I have never considered SS or Medicare as welfare.... To me, they are earned entitlements that I/we were "forced" to pay for. In my case since I was ~15. Along the way they changed the rules. (Like if I/we had any choice in the matter.) In the early 80's, they raised SS FRA (full retirement age) to delay payments and then in 2003 they added IRMAA to Medicare and then they came back again in 2011 to take even more. Heck I'm retired and still paying.

Hey it was all done legally... They simply passed new laws to take more of our money... They just keep chipping away at it one way or the other and keep saying "it's best for all of us". I often wonder who "us" is.....
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Old 09-05-2020, 01:29 PM   #11
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It is our congress, past and present, who voted those new laws on our behalf. Remember, We ( the big plural "we") chose them. We get to vote for or against keeping those people every so often based on how well they align with our values. The problem is, no matter who we put in there, they rarely agree with our each and every value.

Right, Medicare IRMAA for Part B went into effect in 2007, while the IRMAA for Part D was implemented as part of the Affordable Care Act in 2011.
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Old 09-05-2020, 01:36 PM   #12
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It is our congress, past and present, who voted those new laws on our behalf. Remember, We ( the big plural "we") chose them.
Absolutely agree with that... Many problems with the "process" which I can't speak of here without getting in trouble with the mods... Unfortunately it often comes down to all bad choices or just picking the lesser of two evils. Over time, they win.
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Old 09-05-2020, 01:51 PM   #13
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Dang. Didnít even know there were that many tiers.
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Old 09-05-2020, 03:16 PM   #14
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I thought there were only 4. There are 6. My neighbors are Tier 6 not 4.
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Old 09-05-2020, 05:16 PM   #15
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Originally Posted by latexman View Post
Could a moderator add the following to one of the first FAQ posts on acronyms please?

IRMAA stands for income-related monthly adjustment amount. IRMAA is an additional amount that some people might have to pay along with their Medicare premium if their modified adjusted gross income (MAGI) is higher than a certain threshold.

Or did I miss it in the lists?

Thank you.
Excellent suggestion. Consider it done.
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Old 09-06-2020, 08:36 AM   #16
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A informative thread, am following
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Old 12-03-2020, 07:44 AM   #17
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Bumping this thread
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