What You Need to Know About IRMAA and Medicare | Money Talks Ep 16

Описание: In this episode of Money Talks, Ken Wink of Summit Financial Consulting dives into the often misunderstood topic of IRMAA (Income-Related Monthly Adjustment Amount) and its impact on your Medicare premiums. If you're approaching retirement or already enjoying it, this is crucial information you need to avoid unexpected healthcare costs.

Ken breaks down:
What IRMAA is and how it affects Medicare Parts B and D
How income levels can trigger surcharges—even from one-time events like Roth conversions or selling a property
Strategies to avoid or minimize IRMAA through proactive retirement and tax planning
The importance of coordinating between your financial advisor, CPA, Medicare specialist, and estate planner

Timestamps:
00:04 - Intro: Medicare and IRMAA Explained
00:27 - Why High-Income Retirees Face IRMAA
00:58 - Who IRMAA Affects and Why It Matters
01:59 - One-Time Income Events That Trigger IRMAA
04:22 - Summit Team Growth and Updates
04:53 - What is IRMAA? Income Thresholds and Timing
06:11 - Planning Ahead to Manage IRMAA
06:52 - Medicare Part B and D Premium Costs
07:50 - Income Thresholds and Premium Tiers
09:09 - Roth Conversions and Retirement Tax Strategy
10:40 - Why CPAs Alone Aren’t Enough
12:04 - Tools and Team Support at Summit
13:38 - Importance of Proactive Tax Planning
13:59 - IRMAA’s History and Legislative Changes
15:28 - Are IRMAA Thresholds Adjusted for Inflation?
16:43 - How One-Time Events Can Be Waived
17:43 - Filing Form SSA-44 for IRMAA Relief
19:23 - Are Higher Premiums Worth More Benefits?
21:03 - How Summit Helps Navigate Medicare and IRMAA
22:28 - Get a Retirement and Tax Strategy with Summit
23:16 - Contact Info and Closing Remarks

📞 Have questions? Need advice? Contact Ken Wink at Summit Financial Consulting LLC to set up a consultation today!

👉 Call us at 586-226-2100
👉 Visit us at summitfc.net

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