Income Related Monthly Adjustment Amounts – IRMA Medicare 2024
Depending on your income your monthly Part B or D premiums can be adjusted. This is known as Income Related Monthly Adjustment Amounts (IRMAA). Here is a quick rundown on the details for IRMAA for 2024.
IRMAA Explained
- Depending on your income, your monthly Part B or Part D premiums may be higher due to an Income-Related Monthly Adjustment Amount (IRMAA)
- Part B IRMAA started in 2007 as a result of the Medicare Modernization Act of 2003
- Part D IRMAA started in 2011 as a result of the Affordable Care Act of 2010
Eligible Income
- The income used to determine IRMAA is defined by Medicare as “adjusted gross income plus any tax-exempt interest”
- Also known as Modified Adjusted Gross Income
- Examples include:
- Wages
- Social Security Benefits
- Capital Gains
- Dividends & Pensions
- Rental Income
- Tax-deferred distributions from 401(k)s or IRAs
Part B IRMAA
If your yearly income in 2022 was: | You pay each month (in 2024) | ||
File individual tax return | File joint tax return | File married & separate tax return | |
$103,000 or less | $206,000 or less | $103,000 or less | $174.70 |
$103,000 up to $129,000 | $206,000 up to $258,000 | Not applicable | $244.60 |
$129,000 up to $161,000 | $258,000 up to $322,000 | Not applicable | $349.40 |
$161,000 up to $193,000 | $322,000 up to $386,000 | Not applicable | $454.20 |
$193,000 up to $500,000 | $386,000 up to $750,000 | $103,000 up to $397,000 | $559.00 |
$500,000 or above | $750,000 or above | $397,000 or above | $594.00 |
Part B Immunosuppressive Drug Coverage Only IRMAA
Starting in 2023, high-income beneficiaries that qualify for Part B immunosuppressive drug coverage after a successful kidney transplant will pay the following premiums, depending on their income:
If your yearly income in 2022 was: | You pay each month (in 2024) | ||
File individual tax return | File joint tax return | File married & separate tax return | |
$103,000 or less | $206,000 or less | $103,000 or less | $103.00 |
$103,000 up to $129,000 | $206,000 up to $258,000 | Not applicable | $171.70 |
$129,000 up to $161,000 | $258,000 up to $322,000 | Not applicable | $274.70 |
$161,000 up to $193,000 | $322,000 up to $386,000 | Not applicable | $377.70 |
$193,000 up to $500,000 | $386,000 up to $750,000 | $103,000 up to $397,000 | $480.70 |
$500,000 or above | $750,000 or above | $397,000 or above | $515.10 |
Part D IRMAA
If your yearly income in 2022 was: | You pay extra each month (in 2024) | ||
File individual tax return | File joint tax return | File married & separate tax return | |
$103,000 or less | $206,000 or less | $103,000 or less | $0.00 |
$103,000 up to $129,000 | $206,000 up to $258,000 | Not applicable | $12.90 |
$129,000 up to $161,000 | $258,000 up to $322,000 | Not applicable | $33.30 |
$161,000 up to $193,000 | $322,000 up to $386,000 | Not applicable | $53.80 |
$193,000 up to $500,000 | $386,000 up to $750,000 | $103,000 up to $397,000 | $74.20 |
$500,000 or above | $750,000 or above | $397,000 or above | $81.00 |
- You will be notified by Social Security if you are required to pay IRMAA
- How to pay IRMAA:
- Deduction from your monthly Social Security check, or
- You’ll receive a bill from Medicare or the Railroad Retirement Board
- You will never be asked by your Medicare Advantage or Part D carrier for IRMAA payments
IRMAA Appeals
If you feel like you should not owe a Medicare Part B or Part D IRMAA, or you’ve had a major life changing event and your income has gone down, you can submit an appeal
- Form SSA-44 “Medicare Income-Related Monthly Adjustment Amount – Life-Changing Event”
- Schedule an interview with your local Social Security office by calling 800-772-1213
- Bring along proof of your current income sources
- https://www.medicare.gov/your-medicare-costs/part-b- costs
- https://www.medicare.gov/drug-coverage-part-d/costs- for-medicare-drug-coverage/monthly-premium-for-drug- plans
- https://www.healthcareretirementplanner.com/2021/01/0 4/medicare-irmaa-the-history-and-possible-future/
- https://www.cms.gov/newsroom/fact-sheets/2024-medicare-parts-b-premiums-and-deductibles
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