Life Changing Events

Life changing events may affect Part D IRMAA amounts

For example, if you have had since life changing events which significantly lowered your income since you filed your 2011 income tax returns, which is the basis for the calculation of your Part D Income-Related Monthly Adjustment Amount (also known as “Part D IRMAA”) for 2013, you are probably asking yourself if you can request an adjustment of the Part D IRMAA. The answer is “yes”!  If you received a Part D IRMAA notice from the Social Security Administration and your income has changed significantly since you filed your 2011 income tax returns, you can contact the Social Security Administration and advise them that you have had a life changing event and request a review of your Part D IRMAA amount.  Your 2013 Part D IRMAA is based on your 2011 income tax adjusted gross income and filing status simply because that is the most recent information provided to the Social Security Administration by the Internal Revenue Service (IRS).  Life changing events may affect your Part D IRMAA since you filed your income taxes in 2011 and the Social Security Administration may not be aware of the life changing events without you notifying them of the life changing events. 

Life Changing Events May Affect Part D IRMAA: What Counts as Life Changing Events?

If you have had a life changing event that has significantly affected your income since you filed your 2011 income tax returns, you need to call the Social Security Administration at 1-800-772-1213 and advise them that you have new information and request a new decision regarding the amount of your 2013 Part D IRMAA.  Specifically, contact Social Security if any of the following has occurred since you filed your 2011 income tax return:

  • You married, divorced, or your marriage was annulled.
  • You became a widow/widower.
  • You or your spouse stopped working or reduced work hours.
  • You or your spouse lost income from income-producing property due to a disaster or other event beyond your control.
  • You or your spouse’s employer pension plan was reorganized, terminated, or experienced a scheduled cessation.
  • You or your spouse got a settlement from an employer or former employer because of the employer’s closure, bankruptcy, or reorganization.

Life Changing Events May Affect Part D IRMAA: What Happens After I Report Life Changing Events?

When you contact the Social Security Administration regarding life changing events that may affect your Part D IRMAA you must clarify with the whether or not you  must continue to pay the Part D IRMAA while you are awaiting a review of your case and issuance of a new decision.  If you are advised that you must continue to pay the Part D IRMAA then you must do so in order to continue receiving your Part D coverage. 

Medicare Pathways wants you to stay informed of things that affect not only your original Medicare but your Medicare insurance plans and premiums.  It is our goal to provide information regarding the issues that are important to our clients and to our future clients.  If you need assistance with finding a Medicare insurance plan such as a Medicare Supplement, Medicare Advantage, or Prescription Drug Plan, do not hesitate to contact Medicare Pathways at 1-866-466-9118, or simply Request a Quote and a Benefit Specialist will contact you.

 

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