New 2025 IRMAA Brackets Released

The Center for Medicare & Medicaid Services just released the IRMAA brackets for 2025.

Photo by Tyler Delgado on Unsplash

Farmers and other taxpayers who are on Medicare are subject to increased premiums if their modified adjusted gross income (MAGI) is over certain thresholds. MAGI used in the calculations is typically from two years ago. If your MAGI exceed certain levels, you will have an Income-Related Monthly Adjustment Amount (IRMAA) applied to your monthly Medicare Premium.

For example, for 2025 Medicare will review your 2023 income tax return to determine your MAGI. If you have certain life changing events such as retirement, divorce, etc. you can file SSA-44 Form to request they use your current estimate of income instead of income from two years ago. Medicare will then true-up the income once you file that income tax return and if you estimated too low, they would bill you for the difference (or take it out of your social security payment each month).