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

[hung05]

Please correct my number of IRMAA/MAGI

In TurboTax after entering all incomes TurboTax will list out all incomes and Total. Is this Total equal to IRMAA/ MGAI? I used Excel to list out all incomes it turns out very close to this TurboTax number. I believe My Excel Speadsheet was round off to be quick list.

Can someone shine the idea?

[SteamTrain]

@hung05 

Your MAGI for IRMAA purposes comes from your 2024 form 1040.....line 11 PLUS line 2a.

For 2026 IRMAA that will be from the form 1040 that you filed for 2024 .  (if 2024 filed too late, they might use 2023)

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Second table for PArt B coverage on this page (part D amounts further down the page)

2026 Medicare Parts A & B Premiums and Deductibles | CMS

[VolvoGirl]

@hung05  I got my SS letter last week showing my new 2026 Social Security payments and IRMAA amounts.....

[VolvoGirl]

Oh and the IRMAA deductions are on top of the standard Medicare premium $202.90.