You DO NOT Want To Get This Letter in Retirement (feat. Paul Morrison)

We Discuss the impact of IRMAA (Income-Related Monthly Adjustment Amounts) on Medicare premiums. Paul Morrison shares a real-life example where a Social Security recipient's monthly benefit of $1,177 was reduced to $543 due to Medicare Part B and Part D surcharges, triggered by income levels from **two years prior**. The conversation stresses the importance of monitoring income from age 63 onward, as Medicare premiums are based on past earnings. With projected annual increases of 9% for Medicare Part D, 6% for Part B, and 7.5% for surcharge brackets**, failing to plan for IRMAA could significantly impact retirement finances.