Medicare premiums are increasing, and IRMAA surcharges can take an unexpected bite out of your retirement income. If your Modified Adjusted Gross Income (MAGI) exceeds certain thresholds, you could pay hundreds—or even thousands—more per year for Medicare Part B and Part D.
We’ve created a simple, step-by-step flowchart to help you:
✅ Determine if you’ll be subject to an IRMAA surcharge based on your income.
✅ Identify if you qualify for an exception and how to request it using Form SSA-44.
✅ Understand which tax year affects your surcharge calculation and how to plan ahead.
Why This Guide Matters for Retirees Like You
Many retirees are caught off guard by IRMAA surcharges, and Medicare doesn’t warn you ahead of time. Without proper planning, you could face:
🚨 Higher Medicare premiums—up to $400+ per month in extra costs.
🚨 Surprise charges based on your tax return from two years ago.
🚨 Missed opportunities to request an exception and reduce costs.
With proper planning, you can avoid these costly mistakes and keep more of your hard-earned money.
Who Is This Guide For?
✔️ Retirees currently on Medicare or enrolling soon.
✔️ Individuals with taxable income above $106,000 (Single) or $212,000 (Married Filing Jointly).
✔️ Anyone who has experienced a life-changing event (retirement, spouse passing, loss of pension) that may qualify them for an IRMAA exception.
About RCS Financial Planning
At RCS Financial Planning, we specialize in helping retirees maximize their retirement income, minimize taxes, and avoid costly Medicare surprises.
With expert financial and tax planning, we help you stay ahead of Medicare rules, so you keep more of your money in retirement.
📍 Based in Annapolis, MD | Serving clients nationwide