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How IRMAA can Impact your Medicare Premiums On The Money
>> YOUR LINK HERE: ___ http://youtube.com/watch?v=OAEnVSQll6o
Ryan wheless discusses the stealth tax, IRMAA, and how it can impact your Medicare Premiums. • IRMAA stands for Income-Related Monthly Adjustment Amount. It is an additional premium that some Medicare beneficiaries are required to pay for their Part B (medical insurance) and/or Part D (prescription drug coverage) coverage. • IRMAA is based on the beneficiary's modified adjusted gross income (MAGI), which is their adjusted gross income plus any tax-exempt interest income. If a beneficiary's MAGI falls above certain thresholds, they may be required to pay an IRMAA. • The IRMAA amount is determined by the Centers for Medicare and Medicaid Services (CMS) and is based on a sliding scale. The higher a beneficiary's MAGI, the higher their IRMAA will be. • IRMAA is an additional cost to Medicare beneficiaries and can be a significant financial burden for some. If you are required to pay IRMAA and are concerned about the cost, you may be able to request a hardship exemption or appeal the IRMAA determination. It is a good idea to speak with a Medicare representative or a financial advisor for more information about IRMAA and your options for addressing it. • 🔵 ABOUT US • Welcome to the On the Money YouTube channel powered by Allied Wealth. It is our goal to release videos each week to teach you about social security, Medicare, tax strategies, investing, how to manage your 401k, managed portfolios, pensions, annuities, life insurance, risk tolerance and capacity, creating a retirement paycheck and getting the most out of the retirement resources you have. • If you would like to learn more about how we add value to what you are hoping to accomplish whether thinking about retirement or in retirement or want to evaluate how well the financial path you are currently on is going visit us at www.alliedwealth.com and click on the On the Money button to schedule a free strategy session with zero obligation. You can also reach us by calling 281-444-7555. We are here to serve regardless of where you live. • All content is not to be received as advice and each individual should consult with their dedicated financial planner, tax preparer, estate attorney, etc. before making any financial decisions. Public comments on videos are not controlled or reviewed by One the Money or Allied Wealth and do not reflect the views of On the Money or Allied Wealth. On the Money or Allied Wealth may delete comments which contain vulgarity, threats, spam, scams, or other harmful content. Comments are read at the viewer's own risk. Viewers should be wary of fake posts, scams, or other harmful content. • 👉 Join the On the Money radio show by tuning into News Radio 740KTRH Sundays at 1 P.M. • 🟥 Click here for our privacy policy https://alliedwealth.com/wp-content/u... • 👉 For our form CRS • Chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://reports.adviserinfo.sec.gov/c... • #IRMAA #medicare #medicareplans
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