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Higher income in retirement can lead to sticker shock when it comes to Medicare health insurance premiums.
If you are a wealthy person heading into retirement, prepare for some potential sticker shock once you enroll in Medicare. About 8% of enrollees earn enough income to be subject to a surcharge that is added to their Medicare premiums. It’s called an income-related monthly adjustment amount, or IRMAA. In other words, an IRMAA is essentially a higher Medicare premium that some retirees must pay…
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