Many retirees assume their Medicare premiums will remain relatively stable from year to year. Then a surprise letter arrives showing higher Medicare Part B and Part D premiums, even though nothing seems to have changed recently. The culprit is often IRMAA, short for Income-Related Monthly Adjustment Amount, which increases Medicare premiums for higher-income beneficiaries. What makes IRMAA particularly confusing is that Medicare generally looks at your tax return from two years earlier when determining your premiums. Here are seven things that can raise your premiums and catch you by surprise.
