Understanding IRMAA: Income- Related Monthly Adjustment Amount

Understanding IRMAA: How It Can Affect Your Social Security and Medicare Premiums If you're approaching Medicare eligibility or you're already enrolled, there's a good chance you've heard the term IRMAA tossed around — usually followed by a confused look. You're not alone. Here at Macino Financial, one of the most common questions we get from clients preparing for retirement is: "Why is my Medicare premium higher than my neighbor's?" The answer often comes down to IRMAA. Let's break down what it is, how it's calculated, and — most importantly — what you can do about it. What Is IRMAA? IRMAA stands for Income-Related Monthly...