Yeah, I know... I hesitated to say anything about the “unfortunate” situation of paying IRMAA because it is due to a fortunate situation.

If we give you all of our retirement income, would you also pay all of our expenses and give us a nice place to live in Napa? We would love to move back to California. We were both born and raised in San Francisco.

 

Hell, if your RMDs are high enough, you can move in with me!!

 

Being on the lower side of the income requirement, I never knew this existed. Link.

 

Gene, this can occur and be caused by a once in a lifetime thing, like a capital gain from selling stock you've had for years. And when it happens it hurts! Until I fought it, it was costing us about 800 a month!

 

The US enjoys some of the best, most skilled physicians and surgeons on the planet. But most people do not have access to the top level providers while those dignitaries do. The WHO ranking is certainly based on an average. Lots of people in this country only have access to providers who are well below average in terms of staff, equipment, technology, etc.

 

It happened to my brother and sister in law. My brother has been ill for a long time. My sister in law needed to put some money in a "medicare friendly annuity." Not the best investment, but no choice. The money she took out of the IRA was, of course, income and taxable, so their Medicare premium went up. Given her circumstances not a pleasant surprise. Not sure if she would have had any luck if she appealed.

 

To appeal, you have to fit into some exception. Just selling a stock, or a property, or taking extra money out of an IRA, for any reason, doesn’t fit any exception, and there is no appeal.

 

The IRMAA is not a permanent addition to your Medicare premiums.

It is reviewed every year so it could be removed in the future if your MAGI (modified AGI) goes down again.

Income Information is received from IRS to determine Medicare premiums.

 

^^ Very true, and in my case, they reduced the premiums the following year without my doing anything, or even asking.

 

[QUOTE=Lainey;24829100]Did your insurance company deny any of the charges? Or pay them a pittance?

the insurance company pays it. Ever since ACA limited the insurance company profits to 15%, they started paying out more so they can make more money.