May 23rd
Understanding Medicare: How IRMAA Affects Your Financial Planning
In this episode, we take a look at IRMAA, the Medicare surcharge that affects high-income earners. We'll explore what Medicare is, why surcharges exist, and how they're calculated.
Learn about the financial implications of IRMAA for your retirement and strategies to minimize these surcharges. Join us as we discuss managing your Medicare costs and optimizing your financial planning.
Links for Reference:
• https://www.cms.gov/newsroom/fact-sheets/2024-medicare-parts-b-premiums-and-deductibles
• https://www.cms.gov/oact/tr/2023
This content was written by Spencer S. Hall CFP®, RLP ®, CKA ®, MBA, MDiv
Spencer is a Certified Financial Planner™ with 14 years in the field of retirement and financial planning. As a second-generation financial advisor at Retirement Planning Services, Spencer brings a wealth of experience and passion to help clients align their wealth with their core values.
Advisory services offered through Retirement Planning Services, LLC.
The information in this article is intended for general educational and informational purposes only, and should not be construed as investment advisory, financial planning, legal, tax, or other professional advice based on your specific situation. Please consult with your professional advisor(s) before taking any action based on its contents.