Since 2007, the Medicare Modernization Act of 2003 has required high-income Medicare enrollees to pay an Income-Related Monthly Adjustment Amount surcharge, or IRMAA, on their Medicare Part B premiums. This lifts the premium from covering just 25% of costs up to as high as 80% of results, and increased Part B premiums by as much as 219% in 2017 alone. To read the full article in FinancialPlanning, click: The Value of Medicare Surtax Planning.
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The Retiree’s Cost of Care Barometer is an Excel planning tool designed to help you measure retiree health care costs and deliver funding solutions and planning advice tailored to your clients’ needs. This tool, developed by James A. Shambo, CPA/PFS (retired), will help you unveil the mystery of health care costs. To read the full article in AICPA, click: The Retiree’s Cost of Care Barometer.