IRMAA bite increasing for high income seniors

You think the IRMAA bite is bad now?

:rofl:

If you’re a high income senior you “ain’t seen nuthin’ yet”:

Here is one of the most comprehensive IRMAA writeups I have run across:

IRMAA bite to become larger for high income seniors

Reminds me of the Borg from Star Trek:

Resistance is futile

Added note:

The comments below that article are interesting. The most recent comment might especially be interesting to casino rats.

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The killer is that if you go $1 above the threshold, the full tax kicks in. For people in high tax states like my fair state, California, the marginal income tax rate can be well above 50%.

“Resistance is futile”

IRMAA adds in muni bond interest :angry: to your AGI.

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I’d happily pay the tax, because that would mean that I’m better off than 90+% of the population.
Nothing alarming yet, but the trend is concerning, albeit not surprising.

It is, indeed, a most perverse tax in that regard. The stepwise nature of the tax is so very unfair. It should instead be a sliding scale of taxation, akin to the income tax.

Many younger persons, “pre-retirees” I mean, will no doubt be dismayed to discover this tax in the not-too-distant future. It (the IRMAA) will be moving down to meet them as they move up in age into the IRMAA target zone. When the two come together it’s gonna be “sur-prise sur-prise”!

Here we go again!

This is an old thread, but the IRMAA assault is ongoing and new, current, information is now available. If you are an IRMAA victim, you need for certain to click this link:

2021 2022 Medicare Part B Part D IRMAA Premium Brackets

Yikes!

Another advantage of marrying a much younger wife. :slight_smile:

Thanks for the link. Since no RMD was required in 2020, my income dropped so I may come out OK in 2022. That is, with respect to the IRMAA bite but of course not with the steep increase in part B premiums.

The increase in the standard monthly premium—from $148.50 in 2021 to $170.10 in 2022—

https://www.cms.gov/newsroom/press-releases/cms-announces-2022-medicare-part-b-premiums

Here are the estimated (from thefinancebuff) 2021 income limits for the 2023 IRMAA

Standard “Single: <= $94,000”
Married Filing Jointly: <=
"$188,000 "
Standard* 1.4 “Single: <= $119,000”
Married Filing Jointly: <=
"$238,000 "
Standard* 2.0 “Single: <= $148,000”
Married Filing Jointly: <=
"$296,000 "
Standard* 2.6 “Single: <= $177,000”
Married Filing Jointly: <=
"$354,000 "
Standard* 3.2 “Single: <= $500,000”
Married Filing Jointly: <=
"$750,000 "
Standard* 3.4 “Single: > $500,000”
“Married Filing Jointly: > $750,000”
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