What is IRMAA?
You may have noticed a higher-than-normal bill for Medicare Part B and Medicare Part D – this is more than likely due to IRMAA. IRMAA stands for “Income-Related Monthly Adjustment Amount“. This is an additional fee for higher-income beneficiaries. This is due to the government believing that higher-income individuals can afford to pay more for their Medicare premiums. So, you will see this fee added to the monthly Medicare Part B and Medicare Part D premiums. This rate will recalculate every year.
This fee only applies if your annual Modified Adjusted Gross Income (MAGI) is above $103,000 for an individual return and $206,000 for a joint return.
IRMAA Rates for 2024
There are five IRMAA income brackets depending on your income and filing status. The standard Medicare Part B premium for 2024 is $174.70/month.
Below are the brackets for 2024:
| 2022 Individual tax return | 2022 Joint tax return | 2022 Married & filing separate | 2024 Part B premium | 2024 Part D premium |
| $103,000 or less | $206,000 or less | $103,000 or less | $174.70/month | Your plan premium |
| $103,001 – $129,000 | $206,001 – $258,000 | N/A | $244.60/month | Your plan premium + $12.90 |
| $129,001 – $161,000 | $258,001 – $322,000 | N/A | $349.40/month | Your plan premium + $33.30 |
| $161,001 – $193,000 | $322,001 – $386,000 | N/A | $454.20/month | Your plan premium + $53.80 |
| $193,001 – $500,000 | $386,001 – $750,000 | $103,001 – $397,000 | $559.00/month | Your plan premium + $74.20 |
| More than or equal to $500,000 | More than or equal to $750,000 | More than or equal to $397,000 | $594.00/month | Your plan premium + $81.00 |
Can you appeal IRMAA?
In some circumstances you can ask Medicare to review your situation to either get rid of or lower income. Here are some examples of events that can change your IRMAA fee –
- Marriage
- Divorce/Annulment
- Death of Your Spouse
- Work Stoppage
- Work Reduction
- Loss of Income-Producing Property
- Loss of Pension Income
- Employer Settlement Payment
How to appeal IRMAA?
You can appeal IRMAA by completing the Social Security Administration form SSA-44. You can find your local office number here: https://secure.ssa.gov/ICON/ic001.action
