IRMAA Part D
Most people do not pay IRMAA part D and only pay their Part D premium. Be aware if you do not sign up for Medicare part D when first eligible, you may have to pay a Part D late enrollment penalty.
If your modified adjusted gross income (MAGI) is above a certain amount of income for you and/or your spouse, you may have a Part D income-related monthly adjustment (Part D-IRMAA). Medicare will use the MAGI on your IRS tax return from 2 years prior to the current year. If the income is over the stated 2019 guidelines you will may pay the Part D-IRMAA amount in addition to your monthly part D plan premium, This extra amount of monthly premium is paid directly to Medicare but is billed through your plan. The chart below shows the additional amounts and income for 2019 but is based on 2017 earnings.
IRMAA Part D
Social Security will send a notice stating the Part D-IRMAA, based on your income. The amount you pay is adjusted each year based off the prior two years earnings. If you do not agree with the IRMAA amount or make a lot less than you did two years ago you can appeal, use this form to contact Social Security [PDF, 125 KB]. If you have questions about your Medicare prescription drug coverage, contact our office. Crowe and Associates phone number is 203-796-5403
The chart below shows your estimated prescription drug plan monthly premium based on your income as reported on your IRS tax return. If your income is above a certain limit, you’ll pay an income-related monthly adjustment amount in addition to your plan premium.
| Filing status and annual income from 2 years prior | |||
| Individual tax return | Joint tax return | Married & separate tax return | You pay each month (in 2019) |
|---|---|---|---|
| $85,000 or less | $170,000 or less | $85,000 or less | your plan premium |
| $85,000 up to $107,000 | $170,000 up to $214,000 | NA | $12.40 + your plan premium |
| $107,000 up to $133,500 | $214,000 up to $267,000 | not applicable | $31.90 + your plan premium |
| $133,500 up to $160,000 | $267,000 up to $320,000 | not applicable | $51.40 + your plan premium |
| $160,000 and less than $500,000 | $320,000 and less than $750,000 | $85,000 and less than $415,000 | $70.90 + your plan premium |
| $500,000 or above | $750,000 and above | $415,000 and above | $77.40 + your plan premium |
Do you want to learn more about Medicare Part B IRMAA? Click to learn more
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