Turning age 65 brings opportunities and responsibilities that can be confusing and difficult to understand. With Social Security benefits and Medicare, several decisions need to be made:
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The income-related monthly adjustment amount (IRMAA) sliding scale is a set of statutory percentage-based tables used to adjust Medicare Part B and Part D prescription drug coverage premiums. The higher the beneficiary’s range of modified adjusted gross income (MAGI), the higher the IRMAA. There are three sets of tables. Use the beneficiary’s tax filing status when using the table.
The IRMAA screens contain a calculator that takes all the IRMAA determination factors such as filing status, sliding scale, and premium year into account to provide an estimate to the beneficiary upon request. (See Income Related Monthly Adjustment Amount Calculator (IRCA)) MS T2PE 008.013.