A $60,000 annuity withdrawal in 2024 triggers $2,000 in annual Medicare premium surcharges for a retired couple in 2026.
A retired couple faces $2,000 in additional annual Medicare premiums after a $60,000 annuity payout in 2024 raised their 2026 income-based surcharges. Medicare’s IRMAA rule assesses premiums based on income from two years prior, catching retirees off guard.
The surcharge applies per spouse, doubling the impact for couples. Joint modified adjusted gross income above $218,000 triggers the penalty, which many retirees only discover when premiums are deducted from Social Security benefits.
Financial planners recommend spreading annuity withdrawals over multiple years to avoid crossing the IRMAA threshold. The delay between income events and premium adjustments often leads to unexpected costs.