MEDICARE & IRMAA.
IRMAA is a surcharge to Medicare Beneficiaries. It stands for Income Related Monthly Adjusted Amount. IRMAA is determined by a Medicare Beneficiaries' taxes and AGI.
Source: Seniors Matter.
When Social Security Administration makes an initial determination regarding IRMAA. Social Security Administration sends a decision notice 20 days or more after issuing the pre-determination notice to new filers and attainers. These notices contain appeal rights and inform the beneficiary to contact SSA if one of the following situations apply:
The beneficiary experienced an LCE that caused a significant reduction in MAGI.
SSA used PY-3 data and the beneficiary can supply a copy of the PY-2 Federal income tax return.
The beneficiary filed and IRS accepted an amended income tax return for the year we are using to set the IRMAA.
There was an error in the information provided to SSA by IRS and the beneficiary can provide proof from IRS acknowledging the error and the correction, or
The beneficiary had a filing status of Married, Filing Separately and reports living apart from his or her spouse at all times during that tax year.
Sources: www.ssa.gov, www.medicare.gov.
If you have questions contact our Office 888-333-2126
azurbuch@i-f-s-inc.com
Thank you.
