Medicare premium as a single filer
Hi – Just heard you on John Williams show!
Question: 65yo, on medicare, in 2024 my AGI was $67,786 and MAGI $77,900. I am buying a pre owned vehicle and the gross cost including Cook County tax and my 20% federal withholding is $75,000 and I’ll be withdrawing money from a taxable IRA. In 2025, is $106,000 the most income I can show without increasing my medicare premium? If yes, is $106,000 the AGI or MAGI? Thank You,
Terry Says
The column below explains IRMAA — the income related Medicare adjustment amount.
For 2025, for single tax payers is as follows:
The IRMAA brackets for 2025 are as follows:
Individuals:
$97,000 or less: No IRMAA surcharge
$97,001 to $123,000: $65.90 surcharge
$123,001 to $153,000: $164.90 surcharge
$153,001 to $183,000: $263.90 surcharge
Above $183,000: $362.90 surcharge
But here’s the tricky part: IRMAA is based on modified adjusted gross income from two years earlier, meaning the premiums retirees pay in 2026 depend entirely on what they reported to the IRS in 2024.
By then the brackets will be indexed slightly higher. Consult your tax preparer. And be sure to have withholding taken out of your IRA withdrawal. But it is GROSS income, including the IRA withdrawal, on which IRMAA will be calculated down the road.
