Projections for Medicare’s 2026 income-related monthly adjustment amount (IRMAA) are out. Now is the time to check your 2024 tax return to see if you might be subject to the surcharge next year. This surcharge is paid by Medicare beneficiaries for Part B and Part D Medicare, in addition to the standard premiums, if their taxable income exceeds certain thresholds.
The IRMAA applies to all Medicare beneficiaries whose earnings are high enough to make them eligible, including people on Medicare Advantage. Additionally, if you have a Medicare Advantage plan that includes prescription drug coverage, the Part D IRMAA also applies.
