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IRMAA - if my income goes down will my IRMAA surcharges automatically end?

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cn2925
Newbie
‎10-20-2023 10:41 PM

IRMAA - if my income goes down will my IRMAA surcharges automatically end?

 My MAGI for tax year 2021 was over the threshold, as a result I have been paying IRMAA surcharges during 2023.

 

I know that my MAGI for 2022 was under the threshold so I will not be required to pay IRMAA charges in 2024.

 

My question is - Will I automatically stop getting bills for IRMAA in 2024 because they looked up my income? OR Should I file of those "Life Changing Event" forms in order to get the IRMAA surcharge stopped?

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sktn77a
Super Contributor
‎11-23-2023 06:57 PM

They base your IRMA on your Federal Tax return.  No need to file anything if you file taxes.

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