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How to Appeal the Medicare IRMAA Surcharge

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kiplinger.com

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Thu, Mar 28, 2024 11:52 PM

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And, Apple is facing three new class action suits involving their iPhones. Created for {EMAIL} | [Web Version]( March 28, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] Introduction [] [Stepping Into Medicare Surcharge Appeals]( Last October, I wrote an article about the [2024 IRMAA surcharges](. My next thought was — how could I appeal this surcharge? Current liability for the surcharges is determined by examining income tax returns from two years prior. This two-year lag could catch people in very different financial circumstances that wouldn’t be reflected on an old tax return. I have collaborated with my colleagues at Kiplinger to help explain [how you can appeal an IRMAA surcharge]( and find out what financial hardships are more likely to win on appeal. - Donna LeValley, personal finance writer P.S. I welcome your questions and suggestions about this newsletter – you can reach me at d.levalley@futurenet.com [You can do better than the 4% rule for retirement income]( Many advisors say you should only withdraw 4% of your savings at the start of your retirement. With Go2Income you'll get a plan with income that: 1. Starts between 4.5% to 6.5% 2. Increases to age 85 3. Does not run out 4. Factors in your personal objectives See how you can increase your retirement income with a complimentary Go2Income plan. [Order Your Plan]( ADVERTISEMENT [] TOP STORY [] [10 Things You Must Know About Traditional IRAs]( [10 Things You Must Know About Traditional IRAs]( (Getty Images) Now is the time to brush up on your IRA basics, because some of the rules have changed. These rule changes could have a significant impact on how your IRA fits into your overall financial plans. And this is a great primer for the youngsters in your life who are just starting to save. [Use and share these 10 things you should know about traditional IRAs]( and maximize your use of this saving and investing opportunity. [] DIVORCE AND FINANCES [] [In Gray Divorce, Two Financial Planning Yardsticks Are Key]( [In Gray Divorce, Two Financial Planning Yardsticks Are Key]( (Getty Images) Divorce later in life can be particularly disruptive to your finances. If you are in or near retirement, dividing assets, including retirement accounts, can leave you facing different financial realities. CDFA Andrew Heatherly gives an in-depth explanation as to [why these two financial yardsticks can help rebuild your financial well-being after a divorce](. [Is your money working hard enough?]( It should be! Learn how Betterment's automated investing and savings technology can make your money hustle, while you don't. [LEARN MORE]( ADVERTISEMENT [] CLASS-ACTION SUITS [] [Use An iPhone? You May Be Hearing From A Class-Action Lawsuit Group]( [Use An iPhone? You May Be Hearing From A Class-Action Lawsuit Group]( (Getty Images) Not too long ago, I learned from a Kiplinger article that I was entitled to compensation from a class-action suit against Verizon. I also missed a chance to join an earlier class-action suit against Apple; that won't happen again. There are three new class-action suits, following an antitrust suit filed by the DOJ and joined by other state and district attorneys general. Learn more about [the substance of these lawsuits and if you might be entitled to a payout down the line](. [Help Minimize Your Taxes in Retirement]( Our advisors can help you focus on withdrawing your retirement money in a way that helps keep your taxes low. The less you pay in taxes, the longer your money can last. You've worked hard to build up a nest egg and Vanguard advisors are here to help. [LEARN MORE]( ADVERTISEMENT [] OTHER KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [Donald Trump's net worth hits $6.5 billion]( Donald Trump’s wealth has grown despite the legal woes. [Is the stock market open on Good Friday?]( Find out if you’ll need to keep an eye on the markets tomorrow. [Capital One/Discover: what's in their wallet for you?](Opposition to this merger continues to grow. [Homebuyer demand softens despite lower rates]( Buyers stay away as high mortgage rates and low inventory levels persist. [Sign Up for Kiplinger's Free Tax Tips E-Newsletter for Money-Saving Tax Planning and Compliance Advice]( ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include [Kiplinger Personal Finance]( magazine, [The Kiplinger Letter]( [The Kiplinger Tax Letter]( [Kiplinger Retirement Report]( and [Kiplinger Investing for Income.]( All are regarded as the leading publications in their respective fields. Every day, millions of readers rely on our [free e-newsletters]( for help on everything from getting the best rate on a mortgage or car loan, to managing their businesses in an uncertain world, avoiding an IRS audit, building wealth for a secure retirement, or investing wisely in any kind of market. Now it’s your turn to reap all the rewards Kiplinger has to offer. Visit [Kiplinger.com](, your gateway to all of the above and much more. Check in any time for our latest advice on how to make more money, and keep more of the money you make. Stay right on the money, with Kiplinger. 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