Can You Appeal IRMAA (Medicare Tax)?

[@chessdad182]

I had to do this upon retirement. A bit of a pain, but worked.

[@pware9643]

Always informative presentations, thank you. I would like to add two things.. First.. I believe you said early in the video the basis is Taxable Income, when in fact MAGI does NOT include your standard deduction, so its gross income before deductions, plus any tax free income. Second.. I would like to Add that IF you retire and use the SSA-44 appeal form to lower your IRMAA, then you will have to file the appeal in the following year also.. since there is a two year lookback.. so expect to file the appeal TWICE. Keep up the great work guys !!

[@Paul-GrnHil]

I’m a retired CPA and filed my own appeal and like to share a couple points. Even if you are filling MFJ and only have one source of income, you must file a separate SSA-44 for you and your spouse. In our case, we got a different answer for my wife than for me though we shared the same facts and circumstances. Once this occurred, we filed a Request for Reconsideration on line and got it corrected. The online RoR is much quicker than the original paper application. The other point to consider, is when dealing with a work stoppage/retirement and with a 2 year look back, it is possible to request an IRMAA appeal for each of the 2 years and get IRMAA adjusted for the 2 following years. This saved my wife and I thousands of dollars over 2 years.

[@CardinalAdvisors]

@@Paul-GrnHil Thank you Paul

[@Ntsu345]

I called you guys last week I believe I spoke to a young fellow named Jimmy or James and he was extremely helpful and taxed questions I just wanted to say thank you and keep the great videos coming telling the owner of a dog named Trump I said thank you again from Texas

[@gregmackney1951]

Very informative, wish I had seen this before I retired. Thanks

[@johnwm7039]

Did my appeal earlier this year and got Part B IRMAA reduced from $384.30 to $174.7 for both me AND my wife. A big boost to bank statement. It will take 2 - 4 months to hear from them.

[@jagdishshah9512]

Does one time strategy like NUA (net unrealize appreciation) or a large Roth conversion qualify for IRMAA appeal?

[@CardinalAdvisors]

@@jagdishshah9512 no. It takes a life event like work stoppage, work reduction, death of a spouse. The life events are listed on the appeal form

[@junkmail1262]

I’m pulling out $100K this year and $100K next year from my IRA to pay for a house build. I know for 2 years I will pay IRMA. When it’s time to file this form in 2 years to get rid of ERMA what should I check? Work Stoppage? I don’t see one for temporary increase in income?

[@CardinalAdvisors]

@@junkmail1262 There is not a box for temporary increase in income. You can’t check work stoppage or work reduction unless it really happened to you or your spouse.

[@junkmail1262]

@@CardinalAdvisors ??? Does that mean I have to pay IRMA the rest of my life even though it was only a 2 year increase?

[@CardinalAdvisors]

@@junkmail1262 Each year in November, you will receive an IRMAA letter for the next year. In nov 2024 you will receive a letter about 2025. It will be based on your 2023 tax return. Call me if you want more advice

[@MarkVeksler-e5e]

does residential exemption affect IRMAA?

[@CardinalAdvisors]

@@MarkVeksler-e5e No. only the gain over the 250k or 500k affects IRMAA

[@MarkVeksler-e5e]

Thanks @@CardinalAdvisors and for all your content!