1) IRMAA is based on your income from two years ago. So, your 2022 Modified Adjusted Gross Income (MAGI) will determine your IRMAA adjustments for 2024. Note: In 2020, the Medicare Board of Trustees announced projections for future IRMAA adjustments (2021-2028).
2) 2024 magi brackets
| Single |
Couple MAGI |
Part B |
Part D |
| < $103,000 |
< $206,000 |
$174.70 |
Premium (varies) |
| $103,000 to $129,000 |
$206,000 to $258,000 |
$244.60 |
$12.90 |
| $129,000 to $161,000 |
$258,000 to $322,000 |
$349.40 |
$33.30 |
| $161,000 to $193,000 |
$322,000 to $386,000 |
$454.20 |
$53.80 |
| $193,000 to $500,000 |
$386,000 to $750,000 |
$559.00 |
$74.20 |
| > $500,000 |
> $750,000 |
$594.00 |
$81.00 |
3)The most common life-changing event for an IRMAA comes from seniors who were working at age 63 but retired before age 65. In this scenario, being proactive and submitting a life-changing event form to the SSA helps to ensure a smooth and affordable enrollment into Medicare.
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