![]() To calculate your MAGI for the 2023 IRMAA brackets, grab your 2021 tax return and locate your Adjusted Gross Income (AGI). (MAGI for IRMAA is different than MAGI for non-healthcare purposes.) The IRMAA calculation is based on a Medicare-specific form of MAGI. If the 2021 amount is not available, your 2020 MAGI is used. In other words, the 2023 IRMAA brackets are based on your MAGI from 2021. IRMAA is based on your Modified Adjusted Gross Income (MAGI) from two years ago. surcharge) that Medicare members have to pay each month if they make too much money. In plain English, IRMAA is a pesky fee (a.k.a. It represents an increase to Medicare Part B and Part D standard monthly premiums and is determined by the Social Security Administration. IRMAA stands for Income-Related Monthly Adjusted Amount. The official 2024 IRMAA brackets will be announced later this year.From 2007 to 2021, IRMAA bracket increases have ranged from 4.73% – 8.02%.To appeal IRMAA in 2023, you will need to file Form SSA-44. ![]() ![]()
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