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?" - on this site
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?" - on this site
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