Yes. If your income has decreased and moved you to a lower Medicare Part D income-related
monthly adjustment amount
(
IRMAA) bracket, you should consider filing an appeal to have your IRMAA premiums reconsidered based
on
your new income taxes and change in employment status.
According to the Social Security Administration (SSA), if your annual
income has decreased because you are no longer working, you can contact the
SSA, explain your situation, and ask to have the agency reconsider your income-related
monthly adjustment (IRMAA) amount. Please note
that you will need the appropriate documentation verifying the changes in your personal finances, such as
correspondence from your employer about your retirement and a signed copy of your
most recently filed federal income tax return.
You can read more about the current IRMAA brackets and payments in our articles:
IRMAA - for Higher Incomes
Please also note that you can
appeal the SSA IRMAA determination --- and we have information on appealing IRMAA in our Frequently Asked Questions: "
What can I do if I do not agree with the Social Security Administration's income-related monthly adjustment amount or IRMAA assessment?" -
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