Retiring and enrolling in Medicare: You may need to appeal premium surcharges if your income is drop

[SheltieLover]

https://www.cnbc.com/amp/2022/02/15/retiring-and-enrolling-in-medicare-how-to-appeal-higher-premiums.html

About 7% of Medicare's 63.3 million beneficiaries end up paying extra for premiums because their income is high enough for "income-related monthly adjustment amounts," or IRMAAs, to kick in.

You can appeal those surcharges, although you generally have to wait until you receive a determination from the Social Security Administration.

If the agency approves, any IRMAAs you paid would be credited to your bill.

More at link.

[Indykatie]

1. I Got Hit Big Time Because of IRMAA

I knew I'd have to pay the extra surcharge but I was stunned to find I'd be paying $544 a month for Part B and $97 extra for the Part D plan I took in the first year. I took an early retirement deal that came with 12 months of salary. I retired on 12/1 so my 12 months of pay extended into the next year. So I'm on my second year of high IRMAA adjustments.

[SheltieLover]

3. Nice you got an extra year of salary, though!

Really pricy!

[sinkingfeeling]

2. I got hit when my sister died and I got her IRA. One time hit to my taxable income, but

you pay the IRMAA all year. What upset me was the hit to Part D, which I don't even have.

[SheltieLover]

4. How did they charge you for Part D when you don't have it?

Sorry to hear about your sister.

[sinkingfeeling]

5. They just dud.

[SheltieLover]

6. That's weird