When to appeal your Medicare Part B premium. 90 in 2023. So, the only thing definite is that the brackets can't decrease below the brackets for the base year which seems to be tax year 2019, at which time the single bracket where IRMAA begins was $85,000+ in MAGI using MAGI from 2017. Individuals $123,001-$153,000 or. Most Medicare Part B users – those whose tax returns in 2019 were $88,000 or less for an individual tax return (or married but filing a separate return) or $176,000 for a joint return – are paying $148. 2024 and have been doing Roth Conversions annually in the. Since we will blend CY 2024 risk scores using 67% of the risk scores under the current risk adjustment model and 33% of the risk scores under the finalized 2024 risk adjustment model, the bottom line table reflects the blend of the MA risk score trends under the two models, yielding a 4. For married individuals filing joint returns and surviving spouses: If taxable income is under $22,000; the tax is 10% of taxable income. 2nd Surcharge Bracket: 6:42%. The IRS today also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for. Premiums for Medicare Part C (Medicare Advantage) and Medicare Part D (Prescription Drug Plans) are also on a downward trajectory. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. “I have yet to see these thresholds drop,” says Diane Omdahl, president of 65 Incorporated, a Medicare advisory service. As the rate of inflation continues to fall, Social Security beneficiaries may expect to see a much lower cost-of-living adjustment for 2024. The Internal Revenue Service (IRS) has announced new income thresholds for the 2024 tax season. 7. Medicare's annual open enrollment period begins Oct. Doing so can help keep you in a lower IRMAA bracket in subsequent years,. 60. 80 increase from this year, the Centers for Medicare & Medicaid Services (CMS) announced Oct. However, you can make reasonable estimates and give yourself some margin to stay clear of the cutoff points. The Medicare Part B premiums, the IRMAA brackets and add-on were just announced. For the first two IRMAA brackets, it’s clear that. 80 from $164. Part B IRMAA Brackets: Individuals with a 2021 income of $97,000 or less (or married couples filing jointly with an income of $194,000 or less) will pay the standard Part B premium of $164. 80 from $164. 20 for Part B premiums. The tax items for tax year 2024 of greatest interest to most taxpayers include the following dollar amounts: The standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax year 2023. ). 70. Medicare Part B and Part D Prescription Drug coverage for year 2023 IRMAA tables. CMS just announced the updated Part B premiums for 2023. A popular pre-retirement accumulation strategy is to defer. 80 from $164. POMS: HI 01101. The income brackets for premium adjustments can change annually. The SSA provides a chart to show you what you can expect in. 2024 Medicare Parts A & B Premiums and Deductibles. Slott (2018) recom-The higher your MAGI falls within the income brackets, the higher your IRMAA surcharge will be. The first step for MFJ is not bad, but the following steps are much larger hits, and the thresholds for someone who is single are much lower. Or, it makes you pay IRMAA all year! Luckily, the 174k limit is close to both the IRMAA cliff and the top of the 22% tax bracket for joint filers. The Social Security Administration (SSA) determines who pays an IRMAA based on the income reported 2 years prior. In 2022, the standard monthly premium for Part B is $170. 2. . The tax items for tax year 2023 of greatest interest to most taxpayers include the following dollar amounts: The standard deduction for married couples filing jointly for tax year 2023 rises to $27,700 up $1,800 from the prior year. Joint Filing Boost: For 2023 and 2024, couples filing jointly will receive a heightened standard deduction, reducing their taxable income. The adjustments implied a 6. The Internal Revenue Service announced its annual inflation adjustments to federal income-tax brackets for 2024 Thursday, an increase that slightly outpaces the. 90 from $144. We will know the official IRMAA brackets for 2024 when they are announced later this year. 12. The tax year 2024 adjustments described below generally apply to income tax returns filed in 2025. Meanwhile, the IRMAA surcharge for Part D starts at $12. The IRMAA Brackets in 2019 were: As it can been seen since 2007 the IRMAA surcharges have grown over time and in some ways they have grown substantially. 2023 IRMAA Brackets: How Are I + What to How IRMAA This exists the ultimate guide in the 2022 and 2023 IRMAA brackets. ( Check out the 2023 Part D IRMAA amounts here . Average 2024 Medicare Advantage (MA) premiums and deductibles, among other key information, are released annually in September with the MA & Part D Landscape. Oct 12, 2023. 2024 Wisconsin Part D Plans; 2024 Texas Part D Plans; 2024 Tennessee. The Part B IRMAA surcharges range from $65. 90 in 2023. Oct 12, 2023. If Congress doesn’t act, tax. The 2022 IRMAA tiers are likely to be published in mid-November 2021. If you go over the IRMAA cliff in 2022 (for 2024 premiums), you pay the IRMAA for 2024 only. 2024 IRMAA Income Brackets. 4% for 2024 returns, numbers from the the. But the income brackets began to be adjusted for inflation as of 2020. 60 for 2020, an increase of $9. We’ve no information. Like is the ultimate guide to of 2023 IRMAA staples (and the projected 2024 IRMAA brackets). What will the Irmaa brackets be for 2024? IRMAA thresholds change each year, partly due to inflation. Doing so can help keep you in a lower IRMAA bracket in subsequent years, notes. Before Filing Your 2022 Federal Taxes. 50 in 2024. Example: Spreading out withdrawalsCMS previously announced that the average total monthly premium for Medicare Part D coverage is projected to be approximately $55. On average the IRMAA Brackets have inflated from 2007 to 2021 as follows: 1st Surcharge Bracket: 4. 70% while the. Twelve-month inflation for all items ending in September 2023 has been 4. 1 million in 2022. 7 million enrollees are projected to be offered additional supplemental benefits, and/or additional rewards and incentives, as part of the Model test in 2024, up from 5. Looks like the avg inflation will be more than 3% for 2023. Unmarried, most important to me was the. If she has a birthday late in the year, maybe the effect will be small. In 2024, with the inflation adjustment to the IRMAA brackets, you will no longer have a Part D or Part B IRMAA payment. Join Date: Feb 2011. The rates increase for higher income brackets. Changes in Medicare Part B Premiums for 2024. 40 in total premiums and couples will save $124. ) Tax Deduct Retirement Account Contributions; 3. The penultimate bracket is for those whose income was between $170,000 and $500,000 ($340,000 to $750,000 for joint filers) will pay a monthly premium of $544. In addition to the standard premium for their Part D plan (which varies, depending on the plan), high-income beneficiaries will pay a surcharge of $12. 2022 Taxes Will Determine 2024 Medicare IRMAA. IRMAA tax thus has become an important issue for financial planners with higher-income clients relatively recently. Learn about brackets, surcharges, appeals, Medicare costs and IRMAA is based on your modified adjusted gross income. $19,250 of the qualified dividends and long-term capital gains ($89,250 – $70,000) is taxed at 0%. Also, detailed information on the Medicare Part D program for every state, including selected Medicare Part D plan features and costs organized by State. Here. 90 in 2023. For 2021, the Medicare Part B monthly premiums and the annual deductible are higher than the 2020 amounts. The federal government will collect $63. Sep 26, 2023. The IRMAA surcharge is added to your 2023 premiums if your 2021 income was over $97,000 (or $194,000 if you’re married). The annual deductible for all Medicare Part B beneficiaries will be $240. 30 a month and increases to $77. 4 x standard = between $204K and $256k Assuming 5% inflation from Nov 2022 to Aug 2023 standard = up to $208K 1. For an inflation rate of -10% (meaning. Calendar Year 2024 Participation in the Medicare Advantage Value-Based Insurance Design Model: Innovating to Meet Person-Centered Needs. mil. 49 in 2023 to $55. While your AGI will be locked in on Dec 31, 2023, only 4 of the 12 inflation numbers that 'lock in' the 2025 IRMAA brackets will be known. Social Security also announces the 2024 Cost of Living Adjustment will be 3. It can get expensive. The tax rates will remain 10%, 12%, 22%. The $182,000 you quoted is from the MFJ 2022 brackets and is not correct. And the last data point listed in the Financial Buff is the 2023 income. 2. 50 while the average monthly premium for a basic Medicare. 50 in 2024. Each individual will pay a Part B premium of $560. )What will the Irmaa brackets be for 2024? IRMAA thresholds change each year, partly due to inflation. 10. 70, an increase of nearly $10 a month. The 2024 IRMAA brackets depend on the monthly CPI-U (and so inflation) from September 2022 to. There are five IRMAA income brackets depending on your income and filing status. 20 from $170. 2024 Medicare IRMAA (Income-Related Monthly Adjustment Amount) amounts are increased premiums higher income earners. Married Filing Jointly. The Centers for Medicare & Medicaid Services (CMS) has announced that the standard monthly Part B premium will be $174. And starting in 2024, those IRA catch up limits will be indexed for inflation, too. 90 in 2023. Half B Premium 2023 Protection (2021 Revenue) 2024 Protection (2022 Revenue) Customary: Single: <= $97,0002024 Medicare Parts A & B Premiums and Deductibles. Likewise, Medicare Part B IRMAA paid by higher-earning Medicare beneficiaries would decrease slightly. The Centers for Medicare & Medicaid Services (CMS) today announced that the average total monthly premium for Medicare Part D coverage is projected to be approximately $55. IRMAA Brackets for 2024. 80 and $560. . To start, below is an estimate of the 2024 IRMAA brackets assuming 0% inflation. The annual deductible for all Medicare Part B beneficiaries will be $240. 90 from $144. Here’s how it works. or $7. Medicare Shared Savings Program Saves Medicare More Than $1. The 2023 bracket increase should be higher than last year, due to inflation. For 2024, the IRMAA surcharge will be added to your premiums if your 2022 income was over $103,000 (or $206,000 if you’re married). Medicare Part B rates. The federal government will collect $20. If taxable income is over $89,450 but. Schulte expects the 2024 IRMAA income thresholds to be $101,000 for singles and $202,000 for married couples. IRMAA brackets for 2024 premiums. Posts: 243. If your income for 2022 was 204k (0% inflation) to 206k (5% inflation) you would get the IRMAA surcharge for 2024 if you are 65 in 2024. ) Charitable Giving; 2. 9% increase. The IRS has announced the annual inflation adjustments for the year 2024, including tax rate schedules, tax tables and cost-of-living adjustments. 30. This is an increase of $14 per year from the 2022 Part B deductible. For 2023, the IRMAA monthly surcharge for Medicare. Explore the intricacies of IRMAA 2023. 10 a month in 2022. Schulte expects the 2024 IRMAA income thresholds to be $101,000 for singles and $202,000 for married couples. For 2024, if your income is greater than $103,000 and less than $397,000 the IRMAA amount is $384. Please learn 2024 Social Safety Price of Dwelling Adjustment (COLA) Projections and 2024 Tax Brackets, Normal Deduction, Capital Positive factors, and so on. 90 to $174. The 2024 IRMAA Brackets. Medicare’s Part B standard monthly premium will increase to $174. 80 from $164. That is one of the "annoying' things about IRMAA. Likewise, Medicare Part B . The 2024 IRMAA MAGI income limits are straightforward:. Supply: Medicare Prices, Medicare. 00% for IRMAA-Part B and for IRMAA-Part D the surcharges will inflate by 5. The 2024 IRMAA brackets will be based on your 2022 Modified Adjusted Gross Income (MAGI). , see 2022 2023 2024 Medicare Part B IRMAA Premium MAGI Brackets) that 2025 IRMAA tiers, based on 2023 income, will have higher breakpoints due to inflation. 50. 80 in its annual report released this year, marking a 6 percent increase. 90 in 2023. 20 from. 90 in 2023. Individual MAGI Couple MAGI Part B Part D (per/mo) $97,000: $194,000: $164. 70 for 2024, an increase of $9. 50 in. premiums were subject to IRMAA, the government looked at your 2021 tax returns. 70 in 2024, a $9. 90 a month in 2024 to the 5 th and largest Threshold that has a surcharge of possibly $419. 20/month from $170. The increases are mainly due to projected. 70 for 2024, an increase of $9. 2024 Medicare Parts A & B Premiums and Deductibles. The standard Part B premium for most people in 2023 is $164. In 2023, the standard premium for Part B is $164. Navigate retirement planning with our expert financial guide!. 40, bringing the total monthly cost for Part B to $504. The standard monthly premium for Medicare Part B enrollees will be $174. Married Submitting Collectively: >= $750,000. 4899877401, and the 2014Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. 5% in 2024, which could significantly impact beneficiaries. 80 after paying their Part b premiums for 2023. For 2024, if your income is greater than $103,000 and less than $397,000 the IRMAA amount is $384. That beneficiary bracket would pay $157. Individuals enrolled in Medicare Part B, which covers doctor visits and other outpatient services, will pay a monthly premium of $164. 90 each month on top of the cost of your Part D premium. 70. The decline follows another 10% reduction in average MA premiums from 2021-2022. 6 billion in 2023 from Medicare beneficiaries in IRMAA. The revenue brackets are the similar. 80 from $164. The average Part D premium is around $55. This can add up to $839 more a year for Part B — in addition to the. The usual Half B premium will likely be $164. On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts. The premium increase comes on the heels of a decrease in 2023 in the Part B. . If timing allows, such a distribution could be split amongst the two tax years – maybe $30k now and $20k in January. 00% in 2024. Please learn 2024 Social Safety Value of Residing Adjustment (COLA) Projections and 2024 Tax Brackets, Commonplace Deduction, Capital Features, and so forth. Medicare will make the official announcement quickly. Keep an eye on CMS announcements and updates to stay informed about changes in premiums and income brackets. 40 a month in 2024. The annual deductible for all Medicare Part B beneficiaries will be $240 in 2024, an increase of $14 from the annual deductible of $226 in 2023. 20% inflation rate for Part B and a 6. 2023 IRMAA Brackets: What Can It + How to Avoidance IRMAA This has the ultimate guide to aforementioned 2022 and 2023 IRMAA brackets. For incomes that are subject to IRMAA, the . The 2024 IRMAA brackets depend on the monthly CPI-U (and so inflation) from. 2024 Medicare Parts A & B Premiums and Deductibles. On October 12, 2023, the Centers for Medicare & Medicaid Services (CMS) released the 2024 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2024 Medicare Part D income-related monthly adjustment amounts. The annual deductible for all Medicare Part B beneficiaries will be $240. Therefore, Medicare Part B prices will increase in 2024. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. IRMAA applicability and amounts are recalculated annually. Short Summary. How 2024 IRS tax brackets compare to 2023: Full list of new thresholds. In 2024, that standard Part B premium sits at $174. The annual deductible for all Medicare Part B beneficiaries will be $240. For 2024, if your income is greater than $103,000 and less than $397,000 the IRMAA amount is $384. The standard monthly premium for Medicare Part B enrollees will be $174. Married couples filing joint returns and single filers with income below $80,800 and $40,400, respectively, will pay a 0% tax on long-term capital gains for 2021. The standard monthly premium for Medicare Part B enrollees will be $144. We have now all 12 knowledge factors out of 12 for the IRMAA brackets in 2024 (based mostly on 2022 revenue). Sep 26, 2023. 20 from $170. Calendar Year 2024 Participation in the Medicare Advantage Value-Based Insurance Design Model: Innovating to Meet Person-Centered Needs. Ryan Kennelly 1 month ago Updated Follow Medicare Plan Quotes What are the 2024 IRMAA Brackets? Nothing is official yet, but by law the IRMAA Brackets adjust. This amount is calculated using your income tax information. 50 in 2021 to $170. 5 for 2024. I’m also sharing:What IRMAA isHow IRMAA is calculatedThe 10 best ways to avoid IRMAAIf you want to lower your Medicare premiums this year and learn how to reduce IRMAA, you. Over 8. 49 in 2023. Part B monthly premium. Your premium is based on gross income (MAGI). Heaven for bid deflation sets in, the bracket could be less than $210,000. The standard monthly premium for Medicare Part B enrollees will be $174. WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401 (k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. Still, you can make reasonable estimates and give yourself some margin to stay clear of the cutoff points. The annual deductible for all Medicare Part B beneficiaries will be $240 in. And. 70 and the de minimis amount for low income beneficiaries is $2. 80 from $164. 70 for 2024, an increase of $9. IRMAA consists of 5 different Thresholds with the first Threshold having a surcharge of possibly $69. The Centers for Medicare Services is announcing the 2024 IRMAA Thresholds now that the August CPI-U is official. What are the IRMAA Brackets for 2024. 90 to $174. Calendar Year 2024 Participation in the Medicare Advantage Value-Based Insurance Design Model: Innovating to Meet Person-Centered Needs. On average the IRMAA Brackets have inflated from 2007 to 2021 as follows: 1st Surcharge Bracket: 4. The standard Part B Premium REDUCED $5. The annual deductible for all Medicare Part B enrollees in 2024 will be $240, an increase of $14 from the 2023 deductible of $226. Now please keep in mind that at any point between now and the beginning of the 2024 Congress or the current. The standard monthly premium for Medicare Part B enrollees will be $174. News; Finance; Sports; More. tax-exempt interest income (line 2a of IRS Form 1040). Changes in the national Special Needs Plan (SNP) landscape result in slightly more 2024 SNP options and wider availability. Here is a breakdown of the remaining IRMAA brackets and what a couple will pay in total through retirement if legislation remains constant (remember you pay IRMAA each year): The 1st IRMAA. Note: The income levels used by Medicare to determine the 2024 rate will be from 2022 tax returns, unless a lower amount is requested in connection with a life-changing event . The annual deductible for all Medicare Part B beneficiaries will be $240 in. The tax rate schedules for 2024 will be as follows. Remember the income listed is for 2022. Someone asked, how exactly does one limit one's income in 2022 to avoid a cliff for 2024 that does not release until the end of 2023? Is it safe, and advisable, to just use the 2023 threshold? Surely 2024 will be the same or higher, right? Have the. For 2024, the IRMAA surcharge will be added to your premiums if your 2022 income was over $103,000 (or $206,000 if you’re married). The. 2. The standard monthly premium for Medicare Part B enrollees will be $174. Consistent with policy finalized in the 2022 benefit and payment notice (see our Checkpoint article), HHS has announced that the maximum annual limit on cost-sharing for 2024 is to increase to $9,450 for self-only coverage and $18,900 for other than self-only coverage (the 2023 limits are $9,100 and. 2022 Taxes Will Determine 2024 Medicare IRMAA. Now, in 2025, IRMAA will be. 86 in 2023 to $18. IRMAA amounts go up from there at higher levels of income. Ultimately the cost (tax) for having too much money while in Medicare is only going to increase in 2024. In our example, you will be required to pay an extra $31. For instance, people who made $105,000 in 2022 will pay $244. Therefore, Medicare Part B prices will increase in 2024. Unlike Part B, the Part D IRMAA brackets will remain the same in 2022. Individuals $97,001-$123,000 or couples $194,001-$246,000 paid an additional $68 per month. Average 2024 Medicare Advantage (MA) premiums and deductibles, among other key information, are released annually in September with the MA & Part D Landscape. If inflation is 0% from June 2022 through August 2023, these will be the 2024 numbers"My capital gains tax would be $750, but my Part B and Part D IRMAA surcharges would remain at $860. For example, if you were working full-time in 2022 and had an adjusted gross income of $500,000, but in 2024 you retire in the beginning of the year at age 65 and have no wages, you will be. The income brackets that determine how much income a retiree can have before receiving a surcharge on Medicare Part B and Part D premiums has remained constant and is projected to do so through 2028. Lower Average Total Part D Premiums in 2024. The. 10 in 2029. The annual deductible for all Medicare Part B beneficiaries will be $240. ) Fiscal Deductible Retirement Account Contributions; 3. com1. This expected amount is a decrease of 1. CMS will phase-in certain updates, and on average, CMS anticipates a payment increase for MA plans of 3. Oct, 12 2023 — On October 12, 2023, the Centers for Medicare and Medicaid Services (CMS) announced that the both 2024 Medicare Part B premium and Part B deductible would increase 6%. The Finance Buff's IRMAA estimate for 2024 is missing 14 months of inflation data at this point so I would follow his advice to "give yourself some margin to. 2024 IRMAA Brackets. 50. Tax Brackets and Rates 2022, 2023, 2024. For 2020, the Medicare Part B monthly premiums and the annual deductible are higher than the 2019 amounts. For married filers, the ideal taxable income amount for 2024 is $383,900. IRMAA is a surcharge that people with income above a certain amount must pay in addition to their Medicare Part B and Part D premiums. Subscribe Today Introduction: Welcome to our latest Cardinal lesson where we dive deep into the newly released 2024 IRMAA (Income-Related Monthly Adjustment Amount) numbers. 70 for 2024, an increase of $9. The tax brackets for the 2024 tax year, set by the 2017 Tax Cuts and Jobs Act, aren't changing, but the cutoffs for each band of taxation will shift higher. But you will pay higher rates if you earned more than $103,000 on your individual 2022 tax return or more than $206,000 on a joint return. CMS has also announced that the Part D national average monthly bid amount for 2024 is $64. IRMAA Case Studies; The 10 Best Ways at Avoid (or Reduce) IRMAA. Part D IRMAA Brackets:Conversions will increase my MAGI into a higher IRMAA bracket. 1. Each year, the Medicare Part B premium, deductible, and coinsurance rates are determined according to provisions of the Social Security Act. 8% from $56. To repeat, the financebuff's projected 2024 IRMAA brackets for MFJ are: Assuming 0% inflation from Nov 2022 to Aug 2023 standard = up to $204K 1. TAX RATES AND TAX BRACKETS The Tax Cuts and Jobs Act (TCJA) reduced statutory tax rates at almost all levels of taxable income and shifted the thresholds for several income tax brackets (table 1). IRMAA Case Analyses; The 10 Best Paths to Avoid (or Reduce) IRMAA. 3rd Surcharge Bracket: 7. Individuals in the lowest IRMAA tier will save $62. In 2024, the first $11,600 of taxable income will fall into the 10% tax bracket, which means $600 of additional income will be taxed at 10%, instead of 12% in the current tax year. Then there was another $31. The five IRMAA brackets, which are adjusted annually for inflation, usually are announced in late September. 4% for each type of tax filer for 2024, such as those filing separately or as married. Income (MAGI) in 2020 determines which bracket applies. DW is 63 in 2023, so your 1040 for this year will be used to set her IRMAA (& yours) for 2025. Most other Medicare Part D beneficiaries earning over $97,000 individually or over $194,000 for couples filing joint will see a small decrease in their Part D IRMAA payments. Medicare Shared Savings Program Saves Medicare More Than $1. IRMAA surcharges for Part D (the Medicare prescription drug benefit). The Social Security Administration made the calculation and announced the Social Security COLA for 2024. IRMAA surcharges are also increasing 14. The standard monthly premium for Medicare Part B enrollees will be $174. To illustrate this challenge, note that numerical examples here use the 2023 tiers, based on 2021 income, but it is likely (e. So Medicare should announce the official 2023 IRMAA brackets in November or December 2022. ) Tax-Free. Therefore, Medicare Part B prices will increase in 2024. Each year we pay Medicare through Social Security and we have had IRMAA assessed as well. The Part B premium will increase to $148. 50 per month. com. 80 from $164. The 2023 income threshold for Medicare IRMAA is $97,000 for beneficiaries filing individual tax returns and $194,000. 8% from $56. However, in 2024, this number will increase to $7,000 for the new tax year with an additional catch-up rate of $1,000. Has Social Security announced what MAGI amounts will be used in calculating 2024 Medicare premiums?. 8% in 2024, from $56. 90 in 2023, a 5. On September 27, 2022, the Centers for Medicare & Medicaid Services (CMS) released the 2023 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs, and the 2023 Medicare Part D income-related monthly adjustment amounts. 1%, so the 2024 contribution limits increased significantly but less than last year. (The 2023 limits were announced on October 21, 2022. More info at the link provided for the other cost like IRMAA, Part B. If your Annual Income in 2022 was: In 2024 You Pay:. The 2024 IRMAA Thresholds will increase by over 5. ”. Lower Average Total Part D Premiums in 2024.