IRMAA tax delay?

[somarco]

Creditable Rx coverage ends 3/30. Part B starts 4/1. Wants to wait out 63 day before enrolling in Part D.

Client understands IRMAA applies to B (but is filing appeal next week). If appeal granted will Treasury refund any "excess" IRMAA taxes paid?

Same client. Part 2.

If IRMAA appeal is denied, and he waits until May to enroll in PDP effective June (to avoid LEP). will Treasury assess PDP IRMAA tax starting in June when PDP is effective or do they want their pound of flesh for April & May?

 

[sman]

I doubt there will be any refund (just my hunch as I haven't experienced this with a client).

As for Part D IRMAA, it will begin when Part D begins. No retroactive "pound of flesh".

 

[DS4]

Client understands IRMAA applies to B (but is filing appeal next week). If appeal granted will Treasury refund any "excess" IRMAA taxes paid?

What is the compelling reason why your client should NOT pay the higher premium?

 

[somarco]

What is the compelling reason why your client should NOT pay the higher premium?

If he can avoid it, he doesn't want to pay it.

Lately I have run into more than my usual number of folks making $250k+ who are looking for ways to avoid paying IRMAA. Many of they had nice benefit packages (including zero cost health insurance) so now they are no longer under the corporate umbrella they want to pay as little as possible.

Can't blame them but also want to say "stop bitching. You made more than most folks and your post retirement income will likewise be more. Some of these folks are looking at $60k (including spouse) just in SS.

 

[WCMason]

Creditable Rx coverage ends 3/30. Part B starts 4/1. Wants to wait out 63 day before enrolling in Part D.

Client understands IRMAA applies to B (but is filing appeal next week). If appeal granted will Treasury refund any "excess" IRMAA taxes paid?

Same client. Part 2.

If IRMAA appeal is denied, and he waits until May to enroll in PDP effective June (to avoid LEP). will Treasury assess PDP IRMAA tax starting in June when PDP is effective or do they want their pound of flesh for April & May?

Part 1: Once the Life Changing Event application is submitted any IRMAA assessments after the application date are refunded.

Part 2: Part D IRMAA will not be assessed for April or May. I often have clients who wait until last month of IEP or SEP to delay the IRMAA expense.

 

[yorkriver1]

My client may have an effective IRMAA appeal case for 2018, and has paperwork pending. Their question is how long can they wait to pay the IRMAA during the pending paperwork time, in case they don't owe it, but don't want to be in danger of their Part B cancelling.
I advised them not to play chicken with it, but haven't any clients in this exact situation, trying to wait it out. They are supposed to get refunded any payments they made, if declared exempt.