Most people don’t realize Medicare premiums aren’t fixed. If your income crosses certain thresholds, through a surcharge called IRMAA, your Part B and Part D premiums increase.
And here’s the detail that matters most: it’s a cliff, not a slope. One dollar over the threshold and you’re bumped into the next tier for the entire year.
For a married couple, that can mean over $1,000 in additional premiums annually. And it’s per person. Cross the line as a couple and you’re paying that surcharge twice.
David N. Waldrop, CFP®
Owner of Bridgeview Capital Advisors, Inc. a Registered Investment Advisor.
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David N. Waldrop
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