The income-related monthly adjustment amount (IRMAA) is a component of Medicare funding. It was created in 2003 as part of the Medicare Modernization Act to help increase the financial stability of the Medicare program. Since it affects millions of higher-income retirees and can significantly impact monthly costs, understanding the IRMAA is essential for effective retirement and healthcare planning. Test your knowledge of the filing rules, affected Medicare parts and appeal process with this quiz!
And don’t worry if you miss an answer, you can follow the links below the quiz to brush up on your knowledge.
More on Social Security, from the Kiplinger team:
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