Timing for filing SSA-44

[vista25]

I have received conflicting advice about when to file. 

On the form itself, it seems to indicate that I must first wait to receive an IRMAA notice from SSA.  However, some financial advisors say to be proactive and file as soon as the life event has occurred.  This would give the SSA plenty of time to consider my case and, hopefully, avoid high Medicare premiums while awaiting a ruling.  (Life event 2023; income drop starting 2024)

I understand I will need to finalize my 1040 for 2023 in order to complete the SSA-44.  I can document my life event and can pretty accurately estimate my income for subsequent years.  Given this, can I try to pre-empt an expected 2025 IRMAA by filing the SSA-44 in Q1 2024?  Or, must I wait to receive the 2025 IRMAA notice and file the SSA-44 in December 2024?

[DoninGA]

Your best source is the Social Security Administration.  Call them at 1-800-772-1213 

Available in most U.S. time zones Monday – Friday 8 a.m. – 7 p.m. 

[NCperson]

@vista25 there is no harm in filing the form early, but SSA may not process it. what is the rush? Wouldn't it be easier to at least wait until you have your 2023 tax return in hand to prove that you are subject to IRMAA and therefore require the waiver for 2025 IRMAA

Curious, what is the life event that occured in 2023? did you retire? (that would be a permissible life event), but if lower income was because an investment soured, which reducted your income, that is highly unlikely to fly. 

 

[vista25]

It is death of spouse very close to year-end, so income in year of death is almost normal level, but going forward will be greatly reduced.

I am concerned about maybe waiting too long after death to apply for IRMAA reduction or also risking that IRMAA will kick in for several months before I will get any resolution, which may cause me a cash crunch in the short term.

My plan was to file the 2023 return, then file the SSA-44.  So, Q1 2024.  The IRMAA notice would not normally be in my hands until December 2024.  Thought I would be proactive about it.

[NCperson]

@vista25  Sorry for your loss.

that is the best you can do: file as soon as your 2023 tax return is complete. 

frankly, I've never seen an article or blog complaining that the SSA denied relief of IRMAA.

And if the death of income earning spouse is driving the issue, this should be an "easy putt".

But a question: if your 2023 tax return excluded your spouse's income and you filed SINGLE (I am assuming no children), is your resulting MAGI under the IRMAA limits? If the answer is "no", you may still be subject to IRMAA, but only at the level of this hypothetical calculation.  Just an opinion on my part. 

good explanation of IRMAA: 

https://thefinancebuff.com/medicare-irmaa-income-brackets.html

[vista25]

Thank you.

To answer your question:  No.  As single with my own income I would exceed IRMAA.  You make an interesting point though.

Thank you for the link.