Part B Premiums for Higher Income Individuals

QUESTION:  How does the Income-Related Monthly Adjustment Amount (or IRMAA) affect me and my Medicare plan premiums?

ANSWER: Per the Social Security Administration, if you have higher annual income, you will pay an additional premium amount for your Medicare Part B (out-patient care) and your Medicare Part D prescription drug plan coverage. The Social Security Administration calls the additional monthly premium amounts the "income-related monthly adjustment amount".

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QUESTION:  What is the Income-Related Monthly Adjustment Amount (or IRMAA)?

ANSWER:  If you are a person who has higher annual earnings, the Income-Related Monthly Adjustment Amount (or IRMAA) is an additional amount that you pay for your monthly Medicare Part D prescription drug plan premiums and your monthly Medicare Part B (out-patient or doctor visit coverage) premiums.  See table below for adjustments.

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Contact us if you have questions about Part B premiums.

Contact Us:

Medicare Your Way
​(317) 372-3070     
Carmel, Fishers, Fort Harrison, Greenwood, Indianapolis, Martinsville, Nobelsville, and Plainfield

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