A surviving spouse may retain much of the household income—but suddenly face higher Medicare premiums and tax brackets. In Money Matters Episode 348, Christopher Hensley speaks with IRMAA Certified Planner Mark Annese about the widow’s Medicare penalty and other retirement decisions that can trigger IRMAA.
IRMAA—the Income-Related Monthly Adjustment Amount—is an additional charge applied to Medicare Part B and Part D premiums based on income reported two years earlier. Roth conversions, required minimum distributions, investment sales and other seemingly reasonable financial decisions can create unexpected Medicare costs later.
In this episode:
• What IRMAA is and how the two-year income lookback works
• Why the death of a spouse can create a “widow’s penalty”
• How Roth conversions and RMDs may affect Medicare premiums
• When an SSA-44 appeal may be available after a life-changing event
• Why Medicare planning should be coordinated with retirement and tax planning
• How advisors can model potential IRMAA consequences before decisions are made
Guest: Mark Annese, IRMAACP™
IRMAA Certified Planner, Advisor Coach and Solutions Architect
Retirement Advisor Pro: https://www.retirementadvisorpro.com
Host: Christopher Hensley, RICP®, CES®
Money Matters Podcast: https://www.moneymatterspodcast.com
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This program is provided for educational purposes only and does not constitute individualized investment, tax, legal or Medicare advice. Medicare premiums, income thresholds and regulations change over time. Consult qualified professionals about your individual circumstances.
#IRMAA #Medicare #RetirementPlanning
