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Finishing Well

Feb 1, 2020

IRMAA, or Income Related Monthly Adjustment Amount, is a Medicare tax on the wealthy.  IRMAA is a surcharge on Part B and Part D. It is based on your income from your tax returns 2 years prior, so in 2020 that is 2018’s tax return. Hans talks about clients he has had, that are normally surprised and angry about the charge. While some clients income has changed dramatically in 2 years, and therefore are able to appeal the charges, others just have a significant income in retirement. If that is the case, while it does not make sense to do your financial planning totally based on reducing IRMAA, there are smart strategies you can put into place to reduce your taxable income in retirement. Hans and Robby explore all those options! 

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You can contact Hans and Cardinal by emailing or calling 919-535-8261. Learn more at