What are Medicare Part D-IRMAA and Part B-IRMAA?

What are Medicare Part D-IRMAA and Part B-IRMAA?

IRMAA is an acronym for Income-Related Monthly Adjustment Amount. As the name implies, IRMAA is an increase to an individual's premium if his or her income meets a federal threshold. IRMAA applies if you meet the following criteria:

  • <li> You are enrolled in Medicare Part B or Medicare Prescription Drug plan Part D.
  • <li> You have a higher income, as defined under the Affordable Care Act in 2011.

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What are Medicare Part D-IRMAA and Part B-IRMAA?