Social Security IRMAA increased premiums
Terry,
I retired in July 2024, I had worked full time with insurance until then. My question is why is my MAGA score calculated on the Full year of 2024 wages, and not calculated from my retirement date thru December 2024. I exceeded the bracket of basic cost.. Will they reduce my cost for year 2025 as my income is considerably lest than 2024
Thanks
Terry Says
I’m guessing that you received an IRMAA adjustment that raised your Medicare premiums. That calculation is based on your Modified Adjusted Gross income. And that is done annually, based on your tax return. IRMAA looks back two years to make the adjustment.
If your income dropped this year, file this form to request an adjustment of your Medicare premiums:
https://www.ssa.gov/medicare/lower-irmaa
