Correlation Between Income Taxes and Medicare Premiums
When the time has arrived where a conversation includes both taxes and Medicare, often there are more exciting items to plan for such as visiting family, traveling, golfing, or diving into a life-long hobby you’ve always been interested in. Although those other interests often take precedence, it is important to understand the correlation between income taxes and Medicare premiums as there are a few planning considerations related to the Medicare Income-Related Monthly Adjustment Amount (“IRMAA”). IRMAA is an additional surcharge for Medicare that is payable based on your income level.
