IRMAA Explained: How Income Can Raise Your Medicare Premiums

MEDICARE MONDAY Episode 12 | July 27th, 2026

Presenter:

Mitch Hudson | Agency Manager at American Republic Insurance Services

In this episode of Medicare Monday, Mitchell Hudson from American Republic Insurance Services sits down to explain IRMAA — the Income-Related Monthly Adjustment Amount — and why some people see a higher Medicare premium than the standard Part B rate.

Mitch breaks down who can be affected. In the episode he cites these modified adjusted gross income (MAGI) thresholds:

• Above $109,000 if you file as a single individual
• Above $218,000 if you are married filing jointly (and both spouses are on Medicare).
• Cross those lines and Medicare can add an extra amount on top of the standard premium.
  
  

A key timing point: Social Security does not usually look at this year's income.

Premiums are based on tax returns from two years prior. So 2026 premiums are based on 2024 returns.

If your income dropped because of a life change — a retirement-year windfall that is not repeating, selling property, divorce, or similar — Mitch says you may be able to file an appeal using Form SSA-44.

You send Social Security what your income was versus what you expect now.

If approved, they can bring you back to the standard premium or the bracket that actually fits your current situation.

Watch Episode 12 for a clear look at IRMAA thresholds, the two-year lookback, and when an appeal may make sense.

If you're in Peoria, Bloomington, Champaign, or nearby Central Illinois, give us call or send us a message, we're here to help!