Congress Targets the Medicare IRMAA Cliff: Inside the Push to Protect Middle-Class Retirees

Congress Targets the Medicare IRMAA Cliff: Inside the Push to Protect Middle-Class Retirees

The post Congress Targets the Medicare IRMAA Cliff: Inside the Push to Protect Middle-Class Retirees appeared first on 24/7 Wall St..Passing a law to tax the rich is easy. Keeping it from hitting everyone else twenty years later is hard. In 2003, Congress created the Income-Related Monthly Adjustment Amount, or IRMAA. The logic behind the provision in the Medicare Modernization Act was straightforward: most seniors paid roughly 25% of their Part…