Roth IRA Conversion Increases Medicare Premiums
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Medicare premiumSmartAsset
•Will My $100k Roth IRA Conversion Trigger Higher Medicare Premiums?
84% Informative
Medicare premiums for Part B and Part D premiums are tied to income brackets.
When retirement funds are transferred to a Roth IRA, the converted amount is treated as income.
If the amount converted is large enough, it can potentially push the Medicare recipient into a higher bracket and trigger a premium bump.
A number of strategies exist to manage this potential premium hike.
IRMAA looks at MAGI from two years before but uses tables that are updated each year .
Lanners may convert somewhat less than seems safe, so that there is room for error.
Other methods of managing Medicare premium focus on reducing income.
Consider talking to a financial advisor about the prospects for a Roth conversion increasing your Medicare premiums.
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