IRMAA

[mitchden1]

I know that MAGI determines how much IRMAA I have to pay. For Part D, the first IRMAA bracket for 2024 is an additional $12.90 per month. How is the $12.90 calculated and what are  the calculations for all the IRMAA brackets? I'm not referring to the MAGI brackets.

[Bsch4477]

I believe those surcharges are calculated by government actuaries. 

[mitchden1]

I remember reading that each IRMAA level premium is a percentage of a base. I'd like to know the percentages for each level.

[DoninGA]

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@mitchden1 wrote:

I remember reading that each IRMAA level premium is a percentage of a base. I'd like to know the percentages for each level.

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Go to this SSA website for information - https://www.ssa.gov/forms/ssa-44.pdf

[mitchden1]

Thank you but that site only provides the additional premium for each bracket. I'm hoping to find the basis of each amount. For instance, $12.90 additional premium for Part D is probable a percentage increase from a base. I'd like to know what that base is.

[VolvoGirl]

I don’t think it is any percentage.  It’s just a fixed amount based on the prior year MAGI.  That table should cover it.  

[VolvoGirl]

Oh the base would be zero.  MAGI under the table would have no extra IRMAA amount.  

[dmertz · Accepted solution]

20 CFR § 418.1120 - How do we determine your income-related monthly adjustment amount?

https://www.law.cornell.edu/cfr/text/20/418.1120

20 CFR § 418.1115 - What are the modified adjusted gross income ranges?

https://www.law.cornell.edu/cfr/text/20/418.1115