IRMAA Explained: Why Your Retirement Income Can Raise Medicare Premiums

Let's make sure your retirement income decisions don't adversely affect your healthcare costs → https://advocatewealthsolutions.com/l... Two retirees. Same Medicare plan. One pays double the premium. The only difference? What appeared on their tax return two years ago. That's IRMAA (Income-Related Monthly Adjustment Amount). And it doesn't work like a tax bracket, where only the dollars above the line get taxed at a higher rate. It works like a cliff. Cross the threshold by even one dollar and your entire Part B premium jumps to the next level. In this video, Greg DuPont walks through exactly how the IRMAA staircase works, why the 2-year lag effect catches so many retirees off guard, and the 3 diagnostic questions you should ask yourself before any income decision in retirement. -- Timestamps: 00:00 What is IRMAA 00:56 IRMAA Works Like a Staircase 04:20 The 2 Year Lookback 06:15 3 Questions to Ask Yourself 08:10 Retirement Income Recap -- Sign Up For Our Newsletter: https://keap.page/ug344/sign-up-for-e... IG:   / advocatewealthsolutions   FB:   / 104279296066415   LinkedIn:   / dupont-wealth-solutions   -- About Advocate Wealth Solutions Led by Greg DuPont, Certified Financial Planner, Lawyer, Speaker and Author with over 30 years of experience, Advocate Wealth Solutions is an independent financial planning firm specializing in retirement planning, wealth preservation, asset protection, tax planning, and estate planning for high-net-worth individuals, families, and business owners. Based in Dublin, Ohio. Serving clients throughout the United States. For more information about Advocate Wealth Solutions and how we can help secure your financial future, visit htttps://advocatewealthsolutions.com or call 614-408-0004. #financialplanning #medicare #advocatewealthsolutions