This post provides information high income earners need to calculate extra charges for Medicare Parts B and D.

Medicare charges an Income Related Monthly Adjustment Amount (IRMAA, pronounced “Irma”) to those with high incomes. Medicare considers you to be high income in 2022 if your 2020 tax returns reflected an adjusted gross income of

  • $91,000 or more if you’re single or married filing separately
  • $182,000 or more for married filing jointly.

IRMAA is always calculated on your tax returns for two years prior.

If you’re receiving social security, they can deduct this from your check. Otherwise, you can set up an electronic funds transfer or use Medicare’s EZ Pay program.

Part B IRMAA

Here’s a chart that shows the Part B IRMAA for 2022 that you will need to pay if you are high income. This higher income amount is what you will pay instead of the $170.10 that most Americans pay (not in addition to).

Part D IRMAA

You will also need to pay IRMAA for Part D. The amount on this chart is what you will pay in addition to whatever you’re paying for your part D premium. Your premium for your Part D prescription drug plan will be paid directly to the insurance company that you buy the plan from. However, this IRMAA amount for Part D will be paid directly to Medicare.

Reconsideration

You might be in a situation where your life looks very different now than it did two years ago. Maybe you retired, your spouse died, you divorced, or something else.

You can file Form SSA-44 to request a reconsideration.  This allows you to tell Medicare what life change you’ve had and the date of that change. You can ask that they reconsider your IRMAA amount based on your new life circumstances.

Help is free!

I’m Laraine Sookhoo and I’m passionate about helping you understand your Medicare options so you can get the most out of your Medicare benefits. My help is free, so book an appointment to get started!

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