2026 Medicare IRMAA - How High-Income Earners May Save Money скачать в хорошем качестве

2026 Medicare IRMAA - How High-Income Earners May Save Money

Medicare isn’t one-size-fits-all. If your income is above certain thresholds, you’ll pay extra surcharges—called IRMAA (Income-Related Monthly Adjustment Amount ) —on both Part B and Part D premiums. For 2026, these surcharges can add up to nearly $14,000 a year for couples. That’s a significant hit to your retirement budget, but with proactive planning, you can minimize or even avoid these costs. 1 Hi, I’m Bud Milligan, wealth manager and Certified Financial Planner with Milligan Wealth Management. Welcome to our YouTube channel, Your Financial Bud, where our goal is to provide you with weekly personal financial tips and help you better understand how a holistic planning approach to your personal finances can be life-changing. Today, we’re diving into a crucial topic for high-income retirees: the 2026 Medicare IRMAA—Income-Related Monthly Adjustment Amount—and how strategic planning might save you thousands of dollars each year, depending on your income. 2 2026 IRMAA Income Brackets & Surcharges Let’s break down the numbers: • The standard Medicare Part B premium is rising to $202.90 per month in 2026. • High-income earners may pay much more—sometimes double or triple that amount—due to IRMAA surcharges. • These surcharges also apply to Part D prescription drug coverage. The exact brackets are set by the government and adjust annually, so it’s vital to stay informed and plan ahead. 2,3 How Is IRMAA Calculated? Understanding MAGI IRMAA is based on your Modified Adjusted Gross Income (MAGI) from two years prior. So, for 2026 premiums, your 2024 tax return is what counts. MAGI includes not just your wages or Social Security, but also things like: • Traditional IRA withdrawals • Municipal bond interest • Capital gains Many retirees are surprised to learn that even tax-free income, like municipal bond interest, can push them into higher IRMAA brackets. 4,5,6 Why January Matters: General Enrollment Period January is the General Enrollment Period for Medicare. If you missed your initial enrollment, now’s the time to act. But it’s also the perfect moment to review your income sources and tax strategies for the coming year. The choices you make now can affect your IRMAA surcharges two years down the road. Common Mistakes Retirees Make Many retirees don’t realize: • Rolling over a large IRA can spike your MAGI. • Selling investments or taking large withdrawals can trigger surcharges. • Even “safe” municipal bonds can count against you. A wealth manager can help you avoid these pitfalls by designing a withdrawal strategy that keeps your income below IRMAA thresholds. Proactive Tax Planning: Your Best Defense Here’s where working with a wealth manager who is a CFP professional makes a difference: • We analyze your income sources and project future MAGI. • We recommend tax-efficient withdrawal strategies. • We help you time your income to minimize surcharges. • We coordinate with your CPA to ensure your tax return supports your Medicare goals. Strategic planning can save couples up to $14,000 a year in combined surcharges. That’s real money back in your pocket. 7 Case Study: How Planning Saves Money Let’s look at a quick example: Suppose a retired couple is considering a large IRA withdrawal to fund a home renovation. Without planning, this could push their MAGI into the highest IRMAA bracket, costing them thousands in extra premiums for two years. By spreading withdrawals over several years, or using Roth conversions, a wealth manager can help them stay below the threshold and avoid unnecessary surcharges. Call to Action & Closing If you’re approaching retirement or already enrolled in Medicare, don’t leave money on the table. Go to my website at milliganwealth.com, click on the “Let’s Talk” button, and schedule a consultation with me or seek the advice of a licensed wealth manager and CFP professional today. I’ll help you navigate the complexities of IRMAA, develop your tax planning strategy, and help you work toward preserving your retirement income. If you liked this video, don’t forget to like and subscribe for more tips on maximizing your financial future. You can also share it with others you care about. Thanks for watching, and best wishes for reducing the impact of taxes on your retirement in 2026!