I stopped working in 2015 and now earn less than the $85,000 IRMAA threshold, can I ask Social Security to reconsider my 2016 IRMAA premiums?

IRMAA - for higher incomes · published Apr 16, 2016

Yes.Since your 2015 income is below the income-related monthly adjustment amount (IRMAA) level, you may wish to have your 2016 IRMAA premiums reconsidered based on your 2015 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 2015 federal income tax return.

You can read more about 2016 IRMAA in our article "Roughly a 3% increase in the 2016 Income Related Monthly Adjustment Amounts (IRMAA) for Medicare beneficiaries with higher annual incomes." found on this site

Please also note that you can appeal the SSA 2015 IRMAA determination --- and we have information on appealing IRMAA here: https:// on this site