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IRMAA
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- 1Refinery retiree's badly timed house sale raised his Medicare bills▼He Retired From the Refinery on December 31. Closing on the House Two Days Earlier Put the Gain on His Last Full Salary and Raised Both Medicare Bills
An oil refinery worker retired on December 31, but closed on the sale of his house two days earlier, meaning the capital gain landed on his final full year of salary income. Because Medicare surcharges (IRMAA) are calculated from income two years prior, the spike raised both his Medicare Part B and Part D premiums. The story is being shared as a cautionary example of how year-end timing of a big sale can quietly inflate retirement healthcare costs.
- 2How to draw $48,000 a year from a $1.2 million 401(k) tax-efficiently▼How a 63-Year-Old Can Pull $48,000 a Year From a $1.2 Million 401(k) Without Triggering IRMAA or Taxing Social Security
Financial commentators are outlining a retirement withdrawal strategy for a 63-year-old with a $1.2 million 401(k) who wants $48,000 a year in income. The plan focuses on keeping taxable income low enough to avoid higher Medicare IRMAA premiums and prevent Social Security benefits from being taxed once claims begin. It highlights ongoing interest among near-retirees in sequencing withdrawals and managing income thresholds.