Appealing Income Related Monthly Adjustment Amounts (IRMAA) can result in your clients paying lower Part B and Part D premiums IF their income has changed.

Over 4 million Medicare beneficiaries pay income-related adjustment amounts (IRMAA) for their monthly Part B and Part D premiums due to their higher income levels. Most beneficiaries don't pay Part A premiums because they (or their spouse) worked for at least 10 years and paid Medicare taxes. However, people who do buy Part A will pay a premium of either $274 or $499 each month in 2022 depending on how long they or their spouse worked and paid Medicare taxes.

The standard monthly Part B premium for 2022 will be $170.10, which is what most Medicare beneficiaries will pay. For higher earners, that amount will range from $238.10 - $578.30, depending on their income level.

​Part D surcharges next year will range from $12.40 to $77.90 (that’s in addition to any Prescription Drug Plan premium they may pay as well).

These surcharges are based on your clients' tax returns from two years prior - which may not accurately reflect their current financial situation.

If your clients' income has changed significantly, they can appeal those income-related adjustment amounts by completing the Social Security Administration's Life Changing Event form AND by providing proof that their income has changed, which can include:

• A more recent tax return
• A letter from their former employer stating they've retired
• Current pay stubs

​Talk to your clients if they've recently retired or had a change in income. They may qualify for lower Part B and Part D premiums.

Learn more about Medicare costs by visiting Medicare.gov/your-medicare-costs

By Carolyn Portanova

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