05/17/2025
I know this is a very long post, but I am hoping that I can get some support on this subject matter:
IRMAA & Social Security Penalties
I am a Licensed Medicare Sales Agent, so due to that being my Profession, I see quite a bit of recipients of Social Security and Medicare.
I also have clients that are subject to one or both of these situations.
The IRMAA is : Income - Related Monthly Adjustment Amount .
This applies to the Medicare Part B and Part D premiums.
For anyone that has an income of a certain amount or more, they have to pay more for those premiums ( rates are income based and can become very expensive depending on the income).
The Social Security penalties I am referring to would apply to anyone that decides to receive their Social Security check before their Full Retirement Age (FRA),and wants to continue working.
In that case, they can only earn a certain maximum amount of annual income , including their Social Security check, until they reach FRA, and if they exceed that amount, then they are penalized. The penalties will reduce the amount of their Social Security check, and will be withheld, until they either reach FRA or stop working, whichever comes first.
There are a lot of people that are unaware of this, and find out too late, resulting in clawbacks for “ overpayment “
A lot of these people are continuing to work because they need the income for Medical bills and medications, and to be able to afford their costs of living.
I personally just feel like this is so unfair and wrong. The very people that are working and paying into the systems that should be there for them (us) in the later years of life, can get penalized, yet there are SO MANY people that have never paid into or paid very little for these benefits, and they are able to receive more money and benefits than the rest of us.
It makes my blood boil to know that there are so many people receiving these benefits , undeservingly, while the ones that do deserve them are subject to these penalties.
I am posting with the hope that we can get some reform on these issues.
Reform , in the way of eliminating both of these.
I am very thankful for President Trump and all of his administration.
And I am urging EVERYONE to please comment and support this request for reform and to forward this to your local and Federal agencies and personnel and departments that deal with these matters, and help us to get this changed
Thank you for reading and supporting and sharing.
