Income-Related Monthly Adjustment Amount (IRMAA)

IRMAA stands for Income-Related Monthly Adjustment Amount. It is a provision under Medicare that determines an additional premium amount for Medicare Part B and Part D based on a beneficiary's income. IRMAA is applicable to Medicare Part B premiums but not to the copayments or coinsurance for prescription drugs that the Part D plan covers.

IRMAA Medicare Part B Income-Related Monthly Adjustment Amounts solely has an impact on the cost of the Part B premium. The SSA will notify beneficiaries who are subject to IRMAA, and they will be required to pay the increased premium amount based on their income group. Beneficiaries must carefully read the announcements and comprehend how IRMAA affects their Medicare Part D premiums for each calendar year because the particular income criteria and associated IRMAA amounts are subject to annual modification.