Need help with Form SSA-44

[billdz]

Hello,

I am retiring as of 12/31/2023 and my Medicare Part B application for 2024 has been approved. I have received notice that, based on my high income in 2022, I will have to pay a higher Part B and Part D monthly premium (IRMAA). Since my retirement is a "life changing event," I was told to submit Form SSA-44 to get the regular, lower premiums. I have had good income in recent years but after retirement I'll just have some dividend income and social security.

Just a couple of questions about the form: It says in Step 2 to fill in "the tax year in which your income was reduced by the life changing event." Should I say 2024, since retirement did not affect my 2023 income? The form also asks for "the amount of your adjusted gross income." If this means income for 2024, I assume this has to be an estimate? Does income from social security need to be included?

I heard that most requests for a retirement-based premium reduction are rejected. Is that so? Why?

Thanks much for any thoughts,

Bill

[GailL1]

 Here is Form SSA-44 with the instructions.

  SSA.gov Form SSA-44

Yes, you will do an estimate of your 2024 income and you will list the income sources - adding in any tax exempt interest as the instructions say.  You will only include the TAXABLE SS benefit, if any, based on your other income which you may have in 2024./

SSA./gov - Taxable Social Security Benefits.

Get a statement from your employer or provide one yourself stating that you are retiring and beginning to draw your SS Retirement in 2024. Thus there is a reduction in income and how much that will be, approximately.

Go down the 1040 list of income sources and state if you will be getting income and from what source and an approximate amount of how much.

You will probably have to repeat this process ion 2025 when they will be looking at your 2023 tax year income.  

Then for tax year 2026, you will send a copy of your tax return to them verifying what you have listed as your income amount for 2024.

You should not have any problems since your retirement is an actual life changing event and is easily proven -  you worked then you left works for retirement.

Sometimes people get confused and think that they can claim things like IRA to ROTH conversions as a life event. 

[lb41627057]

I also have to file a Form 44 since they didn't pick up my taxes from my 2022 return as a joint filer instead of a separate filer.  The form online is dated 12/2022 and references the Medicare table of 2023.  Does this form get updated each year?  I really need it to reference the Medicare charges of 2024.

[GailL1]

Personally for your concern - which sounds more like an error - call Social Security and request an interview.  

It isn’t based on taxes - it is based on your MAGI -it seems you are saying that they should have picked it up as a joint filer rather than a separate filer- that would make a good bit of difference.  But that is an odd mistake for them to make since they are pulling it directly from your tax return for tax year 2022.

Doublecheck your tax return for TY 2022 - filing status and make sure that’s where the error occurred.  

[lb41627057]

My charge for 2024 is being pulled from the 2021 tax form which was my individual tax return.  My husband's is being pulled from our 2022 tax form which was joint.  I called Social Security and they said to use Form 44 but the table in the form that's online is for 2023 medicare so I am thinking there will be a new form updated with the 2024 table of medicare costs.  ????

[GailL1]

You will be waiting awhile if you are waiting for the form to be updated - the procedure is right so just follow it.

You need to submit the 2022 joint tax return with form SSA-44 stating your problem - which is they used YOUR 2021 tax return for the 2024 IRMAA surcharge when in fact they should have used the 2022 joint tax return for this surcharge.

You can just figure up what the 2024 income/IRMAA is and apply it yourself once they have the correct income to base it upon.  Here it is:  

CMS Newsroom 10/12/2023 - 2024 Medicare Parts A & B Premiums and Deductibles

So just use the correct column for JOINT FILERS 

[lb41627057]

This doesn't affect my bill - just want to get it referencing the right tax return.  Does this form get updated each year?

[billdz]

Thanks much, very helpful!

Couple of follow-ups:

* "you will do an estimate of your 2024 income and you will list the income sources" - Where does it say to list the sources? The form appears to just want a number, the total estimated income.

* I spoke with someone at SSA today and they said not to submit the form until 2024. Does that sound right?

* By the time they process the form, I will have already paid the higher premium for at least a month or two. Will I get a credit or refund?

[GailL1]

Don’t submit the form until they have advised you of the IRMAA for 2024 based on your 2022 TY return.

The list of income sources is for your benefit - because some income sources are NOT gonna be adjusted for this purpose.  For your “reason” it will be “WORK STOPPAGE” and the date of your retirement.  

Will they adjust it ??? Don’t know since you did make this higher amount in TY 2022 but you aren’t retiring until 12/31/ 2023.