For most people, modified adjusted gross income is about the same as adjusted gross income (AGI). If your income places you on the borderline for IRMAA or if you routinely make significant deductions, ...

who specializes in tax issues. For a single filer in 2025, you'll start to incur IRMAA surcharges if your modified adjusted gross income (which is your adjusted gross income with some specific ...

Medicare’s IRMAA can be tricky to parse. Here’s what it means, who qualifies and how it affects your coverage and costs. If your calculated MAGI meets or exceeds the income thresholds set by ...

Knowing this, you should remember that Medicare premiums, including IRMAA, are re-evaluated every year. If your income decreases, your premiums can revert to lower levels in future years.

For purposes of calculating the surcharge, MAGI consists of your adjusted gross income plus: A well-timed Roth IRA conversion can help you avoid the IRMAA as distributions from Roth accounts do ...

You could also owe a monthly surcharge on Medicare Part B and Part D premiums based on an income-related monthly adjustment amount (IRMAA). Medicare open enrollment runs from October 15 to ...

If your income exceeds certain thresholds, you'll pay an extra fee called the Part D-Income Related Monthly Adjustment Amount (IRMAA). For example: Individuals earning over $106,000 or couples ...

At the higher income levels, clearly, IRMAA packs a sizable financial punch. A single filer earning more than $500,000 will pay $628.90 per month or $7,546.80 per year, compared to the $185 ...

Medicare looks at a number called the modified adjusted gross income (MAGI) when determining whether you'll be charged a higher rate. This number won't appear on your tax return, but you can calculate ...

MAGI is calculated by taking total gross income ... Medicare Part D premiums, which pay for prescription drug coverage, are also affected by IRMAA. However, these premiums are smaller than Part B to ...