Is there an IRMAA calculator anywhere?

[jack3454]

Looking for a way to calculate IRMAA fees, but I can’t find any IRMAA calculator except for paid options. Been running into a bunch of people who are above the income levels. How do you all take care of this for your clients?

 

[Fisher]

Google 'IRMAA brackets 2023'. No calculator necessary.

 

[Millwood]

The Person who knows IRMAA best is the CPA. It's 100% tax driven, 100% tied to tax return. Just like ACA.
Never ever thought Healthcare would be locked to tax return.

 

[jack3454]

Google 'IRMAA brackets 2023'. No calculator necessary.

thank you, this will work. I’m about to start telling people just that they might have to pay extra and wait for social security admin to tell them what they’ll owe. It’s confusing with the modified adjusted gross income.

 

[jack3454]

The Person who knows IRMAA best is the CPA. It's 100% tax driven, 100% tied to tax return. Just like ACA.
Never ever thought Healthcare would be locked to tax return.

yeah it’s a bummer. I should just forward them to their accountants!

 

[Chazm]

Why do you need a calculator?

Sir, if your joint MAGI was over $194k in 2021, you will pay more for Medicare. Here’s the amounts.

There’s no guessing.

 

[ValeRosso]

Why do you need a calculator?

Sir, if your joint MAGI was over $194k in 2021, you will pay more for Medicare. Here’s the amounts.

There’s no guessing.

Im assuming he means because the MAGI isn't on your tax return, you need to calculate it yourself and then apply those figures to the IRMAA tax brackets to get the IRMAA. MAGI is AGI plus several deductions added back onto it (which can be a pain especially if the person doesn't have their tax return or all the deductions readily available, then you're just entirely guesstimating).

OP, I dont know of any calculators. I would just explain how the client may have to pay a higher price for medicare in which the SSA will let them know what that number is, but you could estimate that for them if they'd like.