The majority of Americans pay a standard premium for Medicare Part B (medical coverage) and Part D (drug coverage). However, 4.3 million Americans are subject to higher Medicare premiums called income-related monthly adjustment amounts (IRMAAs) — Part B and D surcharges for those with higher incomes.

If you are currently subject to Medicare IRMAAs, this determination was based on your 2019 tax return. So if your income has changed significantly between 2018 and now, you could be paying up to hundreds of dollars more for your monthly premium than necessary.

The good news is that you can appeal your IRMAA if you have experienced a life-changing event that has changed your income, such as a marriage, death of a spouse, divorce, loss of pension, or retirement. Fill out this form, provide the supporting documentation, and submit it to the Social Security Administration for review. As long as you meet the requirements, most appeals are approved.

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