Interested in keeping your medical costs low in retirement? Failing to plan out key details could cost you if you’re not careful. Income Related Monthly Adjustment Amounts (IRMAA) for your Medicare Part B and Part D premiums are a prime example.
Let’s imagine that our good pal, Max Benny, doesn’t get along so well with his Aunt IRMAA. As a matter of fact, he tries to avoid her at all costs. Then one day, she shows up on the front porch, suitcase in hand, “My favorite nephew! Aren’t you glad to see me?” – I’ll take NO for 800, Alex.