Higher income individuals pay more for Medicare Part D

A reminder: you may have current and former employees in your group Medicare plan who are required to pay more for their Part D prescription coverage, depending on their income. As part of the Affordable Care Act, individuals whose gross income meets or exceeds a specified dollar amount will have to pay extra. The program is known as the Part D-Income Related Monthly Adjustment Amount (Part D-IRMAA).

For 2011 – 2019, the income thresholds are $85,000 for a beneficiary filing an individual income tax return (or married and filing a separate return) and $170,000 for a beneficiary filing a joint return. Individuals who fail to pay will be disenrolled from their plan and lose drug and health coverage. If your employees or retirees have questions about the Part D-IRMAA, please refer them to medicare.gov or call 1 800 MEDICARE (1 800 633-4227). TTY users should call 1 877 486-2048.

Topics: Medicare