Harris Insurance Services Agency LLC

Quick Reminder: IRMAA doesn't affect everyone. It only applies to Medicare beneficiaries whose income exceeds certain thresholds, so understanding how your income impacts your Medicare premiums can help you avoid surprises.

Your Income From Two Years Ago Matters: The Social Security Administration generally uses your tax return from two years prior to determine whether you'll pay IRMAA.

Original Medicare generally pays about 80% of approved medical expenses, while a Medicare Supplement plan helps cover many of the remaining costs, reducing unexpected out-of-pocket expenses.