Protect clients from surprise healthcare surcharges
When it comes to eroding retirement income, two culprits stand out: taxes and healthcare costs. Most advisors know how to plan for the first - but the second often gets overlooked. That’s where IRMAA comes in.
The Income-Related Monthly Adjustment Amount (IRMAA) is a Medicare surcharge that raises Part B and Part D premiums for higher-income retirees. It isn’t technically a tax, but your clients will feel like it is, especially when it adds up to thousands in surprise costs each year.
Left unplanned, IRMAA can:
- Disrupt withdrawal strategies
- Increase Medicare premiums unexpectedly
- Undermine long-term retirement plans
The good news? With proactive planning, advisors can help reduce or even avoid IRMAA’s impact. Strategies like Roth conversions, managing income thresholds, and Social Security timing can make a big difference.
Why this matters for you: Clients rely on your retirement guidance. By understanding IRMAA, you can deliver deeper value, strengthen relationships, and help preserve wealth in retirement.
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