Interesting... Thank you for all these replies.If your Medicare Advantage Plan includes prescription coverage, you pay Parts B and D IRMAA.
From the Medicare website:
“If you have a higher income, you might pay more for your Medicare drug coverage. If your income is above a certain limit ($103,000 if you file individually or $206,000 if you’re married and file jointly), you’ll pay an extra amount in addition to your plan premium (sometimes called “Part D-IRMAA”). You’ll also have to pay this extra amount if you’re in a Medicare Advantage Plan that includes drug coverage.”
https://www.medicare.gov/drug-coverage- ... drug-plans
We do not have any Part D Plan per se. Our Advantage Plan includes our drug coverage.
So if we get into the IRMAA tiers (due to Roth conversions), of course, we pay the Part B increase.
But now I'm learning we'd owe Part D as well (although those penalties are actually pretty small).
How does that get administered? Does our Advantage Plan increase our monthly premiums?
Or does the SSA just bill (or withhold) the additional monthly Part D premium?
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Statistics: Posted by micron — Fri Aug 09, 2024 3:20 pm — Replies 144 — Views 12742