What is IRMAA?
It is the Income Related Medicare Adjustment Amount. Put simply, the more income on your tax return, the more your Medicare Part B and Part D prescription drug premiums will cost.
It can be triggered by a large capital gain or an extra IRA withdrawal. With a little planning and the use of Qualified Charitable Distributions (QCD) you can possibly limit the impact. You can also appeal your situation if you have an unusual or non-recurring event.