Economics Matters -- the Podcast wants you to know all the dirty little secrets of IRMAA, Medicare Part B Premium, which is simply a tax by another name. IRMAA refers to Medicare Income-Related Monthly Adjustment Amount. It's a nasty tax that is assessed when you join Medicare Part B or Medicare Part C. It's based on a special measure of Modified Adjusted Gross Income two years back in time. It will cost you anywhere from almost $2K per year to almost $7K. There are ways to limit your IRMAA tax and my guests, Mark Annese and Dan McGrath, are the experts with all the secrets. They have a built a IRMAA certificate program for planners with specialized software that can be used to reduce your IRMAA payments.
Here's descriptions of their program and of Mark and Dan.
IRMAACP is the first certification to assist professionals, from CPAs to Financial Advisors to Attorneys, in navigating and planning for Medicare’s IRMAA. With education on advanced planning, impacts on retirement plans, and training on appellate scenarios for clients, IRMAA Certified Planner is transforming how financial professionals conduct business and increase service value. In conjunction with Healthcare Retirement Planner, we have create the industries first and only complete solution for educating financial professionals and individuals on this topic. We have also created the solution to help project and mitigate these issues within individuals retirement plans.
Dan McGrath is one of the nation’s leading authorities on how the costs associated to health care are impacting investors’ retirement and Social Security benefits. He is the best-selling retirement planning author of “What you don’t know about retirement will hurt you,” as well as authoring on an annual basis, “A Guide to Understanding Medicare.” Currently he is one of the Co-Founders of IRMAA Certified Planner whose main responsibility is creating and designing the content of its IRMAA certification.
Mark Has been working within the Medicare and IRMAA space for the past 8 years. He is the architect of the leading Social Security and Medicare IRMAA software. He is also the Co-Founder of IRMAA Certified Planner and Healthcare Retirement Planner.
Economic Matters - The podcast is hosted by Laurence Kotlikoff and moderated by Alex Kotlikoff.