IRMAA La Not-so-Douce

[braumeister]

We've been paying double the normal Medicare Part B cost for the last couple of years, having been caught by IRMAA.

In answer to a couple of you who asked recently, i can happily report that IRMAA is removed automatically, just as it had been initiated automatically.

In today's mail, we got the annual letter from SS telling us the new amounts we'll receive (0.3% raise ) and the calculation included the amount of the Medicare deduction. We got our 2015 MAGI back down under the threshold, so it's back to normal again. Nice little holiday present from Uncle!

 

[aja8888]

We've been paying double the normal Medicare Part B cost for the last couple of years, having been caught by IRMAA.

In answer to a couple of you who asked recently, i can happily report that IRMAA is removed automatically, just as it had been initiated automatically.

In today's mail, we got the annual letter from SS telling us the new amounts we'll receive (0.3% raise ) and the calculation included the amount of the Medicare deduction. We got our 2015 MAGI back down under the threshold, so it's back to normal again. Nice little holiday present from Uncle!

Neat! An 0.3% raise! I can't wait for my letter to arrive!

 

[W2R]

We've been paying double the normal Medicare Part B cost for the last couple of years, having been caught by IRMAA.

In answer to a couple of you who asked recently, i can happily report that IRMAA is removed automatically, just as it had been initiated automatically.

Hurray!!! Best news ever. You have really made my day.

I don't mind paying extra for Part B for one year, but I had erroneously assumed that I would be paying extra for life. This is terrific! Thank you so much for posting about this.

 

[GrayHare]

Note that if your income drops significantly due to what SSA terms a "life changing event" you don't have to wait until that lesser income filters to SSA in a year or two via a tax return, instead you can apply for an IRMAA reduction immediately. The SSA site has the forms to use.

 

[braumeister]

Note that if your income drops significantly due to what SSA terms a "life changing event" you don't have to wait

Very true, and I know people who have taken advantage of that. Unfortunately, their list of life-changing events is extremely short. But all is well now. It means nearly $2,800 I won't have to pay next year, so it's a pretty big deal.