| Income Related Monthly Adjustment Amount (IRMAA) Reimbursement |
The new year is around the corner, and it is almost time to review your account and submit your 2024 Income Related Monthly Adjustment Amount (IRMAA) reimbursement request!
Reminder: What is an IRMAA? Certain high-income retirees are required to pay an extra premium surcharge, known as an Income Related Monthly Adjustment Amount, or IRMAA. This is similar to the surcharge for high-income enrollees in the Medicare Part B plan. If you are an individual or a married couple earning more than the threshold, you will be required to pay an extra surcharge for being enrolled in the AlaskaCare Employer Group Waiver Program (EGWP) because it is a group Medicare Part D plan. Retirees whose household income is below this threshold will not be subject to the IRMAA premium surcharge.
What do you need to know?
- You need to set up your HRA account every year, since IRMAA surcharges are based on your annual income and your income may change from year to year.
- If you are not assessed Part D IRMAA surcharge this does not apply to you.
- To receive the reimbursement, you should submit your claim and letter as soon as possible, but no later than 12 months after the last day of the current year. For example: The deadline for submitting your 2022 IRMAA for reimbursement is December 31, 2023.
How do I know if I have to pay a Part D IRMAA surcharge in 2024?
Each year, if you are Medicare-eligible, you will be notified by the Social Security Administration about your plan. This includes if you are required to pay an IRMAA and at what amount. The Social Security Administration uses your Modified Adjusted Gross Income (MAGI) to determine if the IRMAA applies to you and, if so, how much you will have to pay. MAGI is the sum of:
- Adjusted Gross Income (AGI), which can be found on the last line your IRS 1040 tax form (line 37 on form 1040, line 21 on form 1040A, or line 4 on form 1040EZ), plus
- Any tax-exempt interest income (line 8b on form 1040).
The Social Security Administration requests income information from the IRS for the tax year that is two years prior to the surcharge year. IRMAA is automatically re-determined each year as long as you file an income tax return.
The below table shows the IRMAA for 2024. The MAGI and IRMAA is subject to change from year to year. Please review the table below to see if your income qualifies you to be assessed an IRMAA surcharge based on your Modified Adjusted Gross Income (MAGI) from the 2022 tax year.
| 2024 PART D IRMAA AMOUNTS |
| If your filing status and yearly income in 2022 was... |
| File individual tax return |
File joint tax return |
File married & separate tax return |
You pay each month (in 2024) |
| Less than or equal to $103,000 |
Less than or equal to $206,000 |
Less than or equal to $103,000 |
Not assessed a surcharge |
| Greater than $103,000 and less than or equal to $129,000 |
Greater than $206,000 and less than or equal to $258,000 |
Not applicable |
$12.90 |
| Greater than $129,000 and less than or equal to $161,000 |
Greater than $258,000 and less than or equal to $322,000 |
Not applicable |
$33.30 |
| Greater than $161,000 and less than or equal to $193,000 |
Greater than $322,000 and less than or equal to $386,000 |
Not applicable |
$53.80 |
| Greater than $193,000 and less than $500,000 |
Greater than $386,000 and less than $750,000 |
Greater than $103,000 and less than or equal to $397,000 |
$74.20 |
| Greater than $500,000 or above |
Greater than $750,000 or above |
Greater than $397,000 or above |
$81.00 |
How to Set Up Your IRMAA Reimbursement with OptumRx:
Once you have your letter from Social Security or a Medicare Bill that shows your 2024 Part D IRMAA surcharge, you can submit your reimbursement request by following the instructions below. You may submit your documents early to OptumRx if you have them available, but claims received prior to January will not be processed until the start of the new year.
Follow these steps to establish your 2024 IRMAA HRA account online:
- Register and/or log in to your Optum Rx.com account either online or through the mobile app.
-
Navigate to the AlaskaCare IRMAA Reimbursement Form by taking the following steps:
- On the top of the main page, click the "Information Center" tab.
- Click "Programs and Forms".
- Click on the "AlaskaCare IRMAA Reimbursement" section. There you will find the digital enrollment form as well as the paper version.
- To submit your reimbursement request digitally (the faster method), click and submit the IRMAA HRA Digital Enrollment Form.
- Upload as an attachment, a copy or image of your letter from Social Security or a Medicare Bill that shows what your Part D IRMAA surcharge is.
- Optum Rx will confirm your eligibility and set up your Health Reimbursement Account (HRA) with Optum Bank within 5 to 7 business days of receipt.
-
Once your HRA has been set up with Optum Bank, they will send you a Welcome Packet within 5 to 7 business days, which will include information on signing up for Direct Deposit.
- If you currently have Direct Deposit set up with Optum Bank, that information does not need to be submitted again.
- Once you receive your Welcome Packet, log in to OptumBank.com to view your HRA account status/balance or to sign up for Direct Deposit.
If you have any questions on how to submit your documents online or if you do not have internet access and would like to submit paper documentation, please contact OptumRx at (855) 409-6999.
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