Why Medicare Surcharges Can Shock Retirees

[progree]

1. Yes, I'm getting "IRMAA'd" this year because of a Roth conversion I made in 2020

Last edited Mon Feb 7, 2022, 07:24 PM - Edit history (3)

but I knew about it in advance when I was making the Roth decision, and it came out as expected.

One of the costs of doing a Roth conversion that year, but I was also in a special tax situation that year (Roth conversions were, for me, effectively taxed at 70% of the marginal tax bracket rate that year, not including the IRMAA consequences), so it made sense to go ahead even with the IRMAA hit.

Edited to add: At the risk of being "spammy", Bob Carlson's Retirement Watch monthly newletter keeps me up to date about things affecting people nearing or in retirement, and the "working old". The last time I renewed, it cost me $126 for 2 years (=$63/year), so its not dirt cheap but well worth it to me.