IRMAA stands for Income Related Monthly Adjustment Amount. This gets added to your Part B and Part D Premiums when your income exceeds certain levels, whether filing jointly or as a single. Social Security will look back 2 years to determine the IRMAA if any and if you have had a Life Changing event that lowered your income, there is a form you can file(See online Forms/Documents on your Advisor’s Website) to get your IRMAA lowered or eliminated entirely. To see where you are, refer to the table below.
Mike Miligi- Owner- Michael M Insurance Services
For over 10 years, Mike has been assisting Seniors and other Medicare-eligible individuals in understanding the ins and outs of Medicare and Medicare Health Insurance options, including Medicare Advantage Plans(Part C), Medicare Supplement Plans(Medigap), Prescription Drug Plans(PartD) and Dental and Vision programs.
Mike is Licensed in 7 States and Certified with 11 Insurance Carriers and has helped thousands of individuals decide on the best course of action for their particular Health Insurance needs. Because Mike is an Independent Medicare Health Insurance Broker, he works for the client, not the Insurance Carriers, and can provide his clients with accurate and unbiased Health Insurance options.
