These adjustments can significantly impact the monthly premiums for Medicare Part B (medical insurance) and Part D (prescription drug coverage). The Income-Related Monthly Adjustment Amount (IRMAA) is an additional fee added to your standard Medicare Part B and Part D premiums. So, for example, the 2025 IRMAA brackets will be based on your income in 2023. IRMAA was created to ensure that wealthier Medicare beneficiaries pay higher premiums for their coverage, helping to offset the overall cost of Medicare. New IRMAA Brackets for 2025The SSA recently released the updated IRMAA thresholds and premium amounts for 2025—see the below chart.

Source: Forbes November 21, 2024 19:49 UTC