IRMAA Explained, How Income Decisions Today Can Increase Medicare Costs Tomorrow (Ep. 199)

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Many retirees assume their Medicare premiums will stay consistent once they enroll. But that’s not always the case, especially for higher-income individuals.

In this episode, Larry Heller, CFP®, CDFA®, breaks down IRMAA, the income-related surcharge that can increase your Medicare Part B and Part D premiums based on income from two years prior. He explains how everyday financial decisions, from IRA withdrawals to capital gains and Roth conversions, can unexpectedly push you into higher premium brackets. 

Larry discusses:

• What IRMAA is and how it impacts Medicare premiums
• How income from two years prior determines your current costs
• Common triggers like Roth conversions, property sales, and large withdrawals
• Strategies to potentially reduce IRMAA through proactive tax and income planning
• Why coordinating tax, investment, and healthcare decisions is essential in retirement
• And more!

Resources:

• SSA Form 44 (to report a life-changing event and potentially reduce IRMAA)
• Medicare IRMAA income brackets and thresholds

Connect with Larry Heller: 

• (631) 248-3600
• Schedule a 20-Minute Call
• Heller Wealth Management
• LinkedIn: Larry Heller, CFP®, CDFA®, CPA
• YouTube: Retirement Unlocked with Larry Heller, CFP®

Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice.

Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant’s current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/