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Jerry’s post reminded me of something I’ve been wondering about. We both hit 65 this year and started Medicare. We pay a hefty IRMAA up charge because it’s based on our 2023 income, when we were both working.
I retired in July. Though I’m drawing pension income, my gross income has obviously dropped. However, between my pensions, my husband’s pension, and his current salary, I’m guessing that filing for a change in status reconsideration wouldn’t adjust the big picture.
BUT—my husband has now settled on retiring next year (October 1). That means that as of 2027, our income will drop substantially, and it should lower our IRMAA hit considerably. My question is: Do I need to file the form now (having retired) about my change in status, even if it won’t change the IRMAA charge for 2026? Will it be too late to ask for the adjustment after he also retires?
In order to ward off surprises, I always adjust my RMD not to be to high, as it could put IRMMA in a higher category. Pay attention to detain could save you over $10,000 a year in future years.
Tell us more about how do you adjust an RMD?
$10,000 a year seems quite high.
My wife and I typically do a Qualified Charitable Distribution of 10,000 each year. Does not show up as income.
Oops I see you fixed it. 😁
I think you mean qualified charitable distribution, but I get your point. Although it may not count for IRMAA, you don’t get to use the money either way.
A friend became eligible for medicare on November 1. His 2025 IRMAA is high based on his 2023 income. He appealed by sending them his 2024 tax return and they lowered his IRMAA using the 2024 figures. They responded in 2 weeks.
If 2027 is the first year your MAGI drops you to a lower IRMAA level, then the Part B premiums you pay in 2027 can be lowered, to use the 2027 MAGI (rather than the default 2025 MAGI).
Submit the SSA-44 form around late 2026, after you receive the notice that you are being charged the IRMAA for 2027.
Thanks, that makes sense!
My reading and experience is that you make the request by filing a form SSA-44 after the notice of IRMAA is received.
Guidance per the SSA website –
If you’ve had a life-changing event that reduced your household income, you can ask to lower the additional amount you’ll pay for Medicare Part B and Part D.
I agree with parkslope that you can file a SSA-44 based on income reduction that you anticipate but I am unsure how well that will work for an event that while anticipated has not yet occurred such as a spouse’s death or the termination of employment.
I hope this helps in your planning. If you decide to file a SSA-44 on a anticipated life changing event I hope you will be able to share the outcome of doing so on Humble Dollar.
Best, Bill
This is my understanding as well. Wait until you receive the SSA after you receive the IRMAA notice for that year.
Will do, thanks!
Hi Dana,
This is one area where I believe the SSA is quite flexible. You can file before or after your life-chaning event (see the section from Form SSA-44 below). If your retirement drops you to a lower IRMAA category for 2025 I believe you will get a refund although it may take several months.
If you have had or anticipate having a life-changing event, you can report to us an income reduction that has already occurred or an income reduction that you anticipate occurring this or next year. Use Step 2 to report
reductions that have already occurred, and Step 3 to report reductions you are anticipating occurring.
https://www.ssa.gov/forms/ssa-44.pdf
Thanks!