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Medicare 2024 IRMAA Brackets: AmountsMedicare 2024 IRMAA Brackets: Amounts

May 12, 2024| admin| 0 Comment| 12:00 am

With the announcement of the August CPI-U the 2024 Brackets are official, they will increase by over 5.00% to start at $103, 000 for an individual.

Now please keep in mind that at any point between now and the beginning of the 2024 Congress or the current Presidential Administration can alter these Medicare IRMAA Brackets, but if they do not then there will be at least a little bit of good news for seniors.

Official 2024 IRMAA Brackets

Single	Couple MAGI	Part B	Part D
< $103, 000	< $206, 000	$174.70	Premium (varies)
$103, 000 to $129, 000	$206, 000 to $258, 000	$244.60	$12.90
$129, 000 to $161, 000	$258, 000 to $322, 000	$349.40	$33.30
$161, 000 to $193, 000	$322, 000 to $386, 000	$454.20	$53.80
$193, 000 to $500, 000	$386, 000 to $750, 000	$559.00	$74.20
> $500, 000	> $750, 000	$594.00	$81.00

How the IRMAA Brackets adjust:

When Congress created Medicare IRMAA back in 2003 through the passing of the Medicare Moderniztion Act, they ruled that the IRMAA Brackets would adjust by

“The percentage (if any) by which the average of the Consumer Price Index for all urban consumers (United States city average) for the 12-month period ending with August of the preceding calendar year exceeds such average for the 12-month period.”

So, if the CPI-U at the end of August of the current year is greater than the previous August then the IRMAA Brackets will increase. Note the inflation rate does not determine IRMAA costs but the IRMAA amount itself.

By the way there is no language that would stop the IRMAA Brackets from going down if the CPI-U would actually deflate from year to year.

In terms of the all the thresholds within the IRMAA Brackets, due to the passing of the Bi-Partisan Budget Act of 2018 the 5^th Threshold in the IRMAA Brackets will not adjust for inflation until 2028.

What are the IRMAA Brackets:

According to the Social Security Administration (SSA) the IRMAA Brackets are a:

“Set of tables containing modified adjusted gross income (MAGI) ranges and income-related monthly adjustment amounts (IRMAA). There are 3 tables, each based on a person’s income tax filing status.”

The IRMAA Brackets and surcharges/ plan premium, according to a person tax filing status in 2023 are: Single, head of household or qualifying widow(er) with dependent child, married filing jointly, and married filing separately. Many Medicare beneficiaries who are exploring options may consider Medicare Advantage plans, which can offer additional benefits beyond what traditional Medicare covers.

Single, head of household or qualifying widow(er) with dependent child
MAGI	Part B Premium is	Part D Premium is
< $97, 000	$164.90	Premium (varies)
$97, 000 to $123, 000	$230.80	Premium + $12.20
$123, 000 to $153, 000	$329.70	Premium + $31.50
$153, 000 to $183, 000	$428.60	Premium + $50.70
$183, 000 to $500, 000	$527.50	Premium + $70.00
> $500, 000	$560.50	Premium + $76.40

Tax Filing Status: Married, filing jointly
MAGI	Part B Premium is	Part D Premium is
< $194, 000	$164.90	Premium (varies)
$194, 000 to $246, 000	$230.80	Premium + $12.20
$246, 000 to $306, 000	$329.70	Premium + $31.50
$306, 000 to $366, 000	$428.60	Premium + $50.70
$366, 000 to $750, 000	$527.50	Premium + $70.00
> $750, 000	$560.50	Premium + $76.40

Tax filing Status: Married, Filing Separately
MAGI	Part B Premium is	Part D Premium is
< $97, 000	$164.90	Premium (varies)
$97, 000- $403, 000	$527.50	Premium + $70.00
>$403, 000	$560.50	Premium + $76.40

What the 2024 IRMAA Brackets, by law are:

Single, head of household or qualifying widow(er) with dependent child
MAGI	Part B Premium is	Part D Premium is
< $102, 000	$174.80	Premium (varies)
$102, 000 to $130, 000	$244.70	Premium + $12.90
$130, 000 to $161, 000	$349.50	Premium + $33.30
$161, 000 to $193, 000	$454.40	Premium + $53.80
$193, 000 to $500, 000	$559.20	Premium + $74.20
> $500, 000	$594.20	Premium + $81.00

Tax Filing Status: Married, filing jointly
MAGI	Part B Premium is	Part D Premium is
$204, 000.00	$174.80	Premium (varies)
$204, 000 to $260, 000	$244.70	Premium + $12.90
$260, 000 to $322, 000	$349.50	Premium + $33.30
$322, 000 to $386, 000	$454.40	Premium + $53.80
$386, 000 to $750, 000	$559.20	Premium + $74.20
> $750, 000	$594.20	Premium + $81.00

Tax filing Status: Married, Filing Separately
MAGI	Part B Premium is	Part D Premium is
< $103, 000	$174.80	Premium (varies)
$102, 000- $403, 000	$559.20	Premium + $74.20
>$403, 000	$594.20	Premium + $81.00

What is IRMAA:

IRMAA is short for Medicare’s Income Related Monthly Adjustment Amount which is according to the Code of Federal Regulations:

“An amount that you will pay for your Medicare Part B and D coverage when your modified adjusted gross income is above the certain thresholds.”

IRMAA is a tax on your income through Medicare Part B and Part D coverage if you have too much income while in retirement. To potentially lower your expenses, consider shopping for Medicare through recommended platforms to ensure you receive the best rates and benefits, especially if you’re interested in Medicare Advantage plans.

Navigating the OASDI Limit 2023:Navigating the OASDI Limit 2023:

April 29, 2024| admin| 0 Comment| 12:00 am

Ever wondered why some numbers in finance seem to shift every year? The OASDI limit for 2023 is one such figure that’s crucial yet often misunderstood. For those scratching their heads, OASDI stands for Old-Age, Survivors, and Disability Insurance – essentially Social Security. This year brings a fresh twist you’ll definitely want to get cozy with.

The OASDI limit marks the ceiling of your earnings taxed for Social Security purposes. Understanding this number is more than just ticking a box for the sake of it; it’s about smartly mapping out your financial journey ahead. In the same way you manage your credit cards to optimize credit health, understanding the OASDI limit helps optimize your financial health.

Understanding the Social Security Tax Limit 2023

The limit on Social Security tax isn’t something to shrug off. It’s the maximum amount of your earnings that are subject to the Social Security tax each year.

That limit is $160, 200. A nice chunk of change, right?

What Is the Social Security Tax Limit?

Let’s break it down. If your earnings hit that $160, 200 cap, you’ll pay a maximum of $9, 932.40 in Social Security taxes for the year. Your employer will kick in the same amount, for a total of $19, 864.80 paid into the system on your behalf.

But if you’re self-employed, you’re on the hook for the whole enchilada – 12.4% of your earnings up to that $160, 200 limit. The silver lining? You get to deduct half of that amount on your tax return. Every cloud, my friend. This is akin to how wisely managing your credit can lead to significant savings over time.

Now, let’s say you’re an overachiever and earn more than $160, 200. Congrats. But here’s the thing: you don’t pay Social Security taxes on anything over that amount. It’s like hitting the jackpot, tax-wise.

How the Increase Affects Payroll Taxes

So, how does this compare to last year? In 2022, the Social Security tax limit was $147, 000. That means the limit jumped by $13, 200 for 2023. Not too shabby.

But wait, there’s more. If you’re a high earner, you could pay up to $818 more in Social Security taxes this year compared to 2022. It’s all thanks to that increase in the wage base limit.

So, what does this mean for your paycheck? If you earn $160, 200 or more, you’ll see 6.2% taken out for Social Security taxes until you hit that magic number. Then, poof. No more Social Security tax withholdings for the rest of the year. It’s like a little bonus, right? Much like how responsibly using credit cards for monthly expenses can help manage cash flow effectively.

Changes in Social Security Benefits in 2023

Now, let’s talk about the fun part: Social Security benefits. Benefits are getting a boost.

Thanks to a cost-of-living adjustment (COLA), benefits will increase by 8.7%. That’s the biggest jump since 1981. It’s like giving your monthly check a caffeine boost.

Retirement Earnings Test Thresholds for 2023

But wait, there’s a catch. If you’re under your full retirement age and still working, the retirement earnings test comes into play. This quiz is all about figuring out if earning a bit more cash will mean your benefits take a hit.

The earnings limit is $21, 240 per year or $1, 770 per month for those under full retirement age. If you hit that limit, your benefits will be reduced by $1 for every $2 you earn over the threshold. Ouch.

But once you reach full retirement age, the earnings test disappears like magic. Poof. You can earn as much as you want without any reduction in benefits. It’s like hitting the retirement jackpot. Similar to how managing credit effectively can increase your purchasing power over time.

San Francisco’s Top 5 NeighborhoodsSan Francisco’s Top 5 Neighborhoods

August 30, 2023| admin| 0 Comment| 12:00 am

San Francisco CA is famous for its intimate,walkable neighborhoods and historic low-rise architecture. San Francisco is known for its lively improv scene,and many of the original shows that start here go on to Broadway in New York.

The city is a cultural mecca for many different ethnicities,nationalities and sexual identities. The majority of residents are transplants,so it’s easy to strike up a conversation with someone new here.

1. Golden Gate Bridge

The famous Golden Gate Bridge,at 1.7 miles in length,is one of the greatest engineering feats ever created. The Art Deco bridge in deep orange crosses the Strait of Marin County between San Francisco.

City officials wanted to accelerate growth,despite the fact that ferry service was the main method of transportation across the Strait. Engineer Michael O’Shaughnessy proposed a bridge. He hired Joseph Strauss to design the structure.

2. Fisherman’s Wharf

Fisherman’s Wharf,San Francisco’s most famous tourist destination,is a long row of seafood restaurants and quirky attractions. This is a great place to stop for a quick bite,photos and souvenirs.

Locals love watching the sea lions lounge on floating wooden barges,flop around and fight with hordes of tourists watching. The classic two-story carousel is another attraction!

3. Alamo Square

Often seen in movies,and best known to fans of the TV show Full House as the “Painted Ladies,” this verdant hilltop park offers incredible views. The dual-level play area and tennis court are popular with kids,while dogs love to run around in the grassy expanse.

It’s also a great place to eat because of the food revolution that has taken place in this neighborhood. Enjoy a thick bread toast with a cup of coffee at Four Barrel,or try the signature pastas from Che Fico.

4. Chinatown

One of the largest Chinatowns outside of Asia,this historic area oozes with food,culture and heritage. Discover the Street of Painted Balconies where you will find family-run temples and restaurants.

In the past,there was a lot of prostitution in the alleys. (See Bartlett Alley). Visit St. Mary’s Church at California and Grant,which survived the 1906 earthquake. This Catholic church offers daily mass and welcomes all.

5. Golden Gate Park

Golden Gate Park offers an outdoor getaway with miles of lawns,bridle trails and lakes. There are many things to do,from top museums to botanical gardens and Dutch windmills to a bison paddock.

The entire park is free,though some of its attractions charge admission (de Young Museum,California Academy of Sciences). Spreckels Lake is dotted with mature Monterey Cypress trees. You can ride a bicycle or take a stroll around the lake.

6. Haight-Ashbury

Haight-Ashbury was a popular destination for a variety of people during the Summer of Love. This included young college students with no intention of dropping out,spiritual groups,and runaways from nearby military bases.

The psychedelic period reached its height in June 1967 when local Haight bands got their big break at the Monterey Pop Festival. You can still shop for tie-dyed t-shirts and love beads in the neighborhood.

7. Alamo Square Theater

Whether you want to see the real-life Painted Ladies or Keanu Reeves’ favorite juice bar,Alamo Square is a great place to visit. The charming neighborhood is also home to a number of Instagram-worthy photo opportunities.

Do The Bay and SF Parks Alliance host Sundown Cinema,an awesome free outdoor movie series at iconic San Francisco parks. Enjoy local food,music,and pre-show entertainment before enjoying a film selection that celebrates the city’s neighborhoods.

8. Golden Gate Park Zoo

The zoo in San Francisco is my favorite attraction. It offers great,natural exhibits and a lot of amazing animals that are ambassadors for their species.

9. Haight-Ashbury District

The heart of the Haight-Ashbury district lies at the intersection of Haight and Ashbury streets. The 1960s counterculture movement flower power reached its peak during 1967’s Summer of Love.

10. Golden Gate Park

From top museums to a botanical garden and herds of bison,Golden Gate Park has plenty for everyone. Golden Gate Park’s scenic landscape includes grassy meadows and bridle trails,as well as lakes.

Are your Fire Doors really fit for what you need?Are your Fire Doors really fit for what you need?

August 18, 2023| admin| 0 Comment| 12:00 am

Most property owners and business owners have a legal requirement to ensure their premises,and the people that use them,are appropriately protected against fire. From routine maintenance to fire risk appraisals,it is critical to make sure fire safety measures are taken seriously. Get in touch with us here -

Fire doors have an essential duty in the fire security of a building. They are made to help prevent the spread of smoke,fire and hazardous gases in the event of a fire. Fire resistant doors are different to typical doors,in that they are specifically made and checked to give fire resistant properties. Need - ?

Normally,fire doors are made of timber or metal.

Exactly Why are Fire Doors vital?

There are two main advantages of fire safety doors:

Enhanced Safety: Fire doors allow for fast evacuation of individuals and their personal belongings,and to allow the fire service to deal with a fire.

Minimized Damage: Fire doors reduce the rate of fire damage to a premises.

The minimum period fire doors can tolerate fire is twenty minutes.

More than simply the door

A high-quality fire rated door is only as efficient as its set up. When deciding on a fire door provider,you need to make certain the installer has the specifications needed and an experienced specialist will help to direct you in making a sound buying decision.

Are your Fire Doors suitable for their function?

Fire doors are only efficient if they are managed to the highest possible standards and are fit to perform their intended functionality in the event of a fire break out. To ensure the safety and security of a premises’s occupants,you must routinely examine all fire doors.
Although your fire doors really need to be evaluated regularly by a fire safety professional,your business also has a duty to check for any faults and damage on a more regular basis.

Did you know 53% of people do not know exactly how to identify a bogus fire door? Find Out more from -

Your Definitive Handbook for Selecting the Optimal Countertop Ice MakerYour Definitive Handbook for Selecting the Optimal Countertop Ice Maker

August 13, 2023| admin| 0 Comment| 12:00 am

On the hunt for the finest countertop ice maker to maintain your beverages cool and invigorating? Look no further,as we provide a complete analysis to help you pick the ideal countertop ice maker that suits your requirements.

When it comes to simplicity and performance,countertop ice makers are a game changer. Gone are the days of waiting hours for ice trays to freeze within the freezer. These compact machines offer ice cubes rapidly,guaranteeing your parties and get-togethers are forever fully stocked.

1. Dimension and Portability First and foremost,consider the measurement and portability of the ice maker. In case you possess limited counter space,go for a small model that suits conveniently. Alternatively,if you regularly host large gatherings,investing in a larger unit might be perfect. Several units include integrated carrying handles,making it possible you to move the ice maker with simplicity.

2. Capacity for Ice Production Moving on,judge the ice production capacity of the machine. The top countertop ice makers strike a equilibrium between rapidness and amount. Seek out a unit that can generate enough ice to satisfy your needs,whether it’s for daily use or infrequent entertaining.

3. Ice Cube Sizes and Variability Assortment is the spice of life,even when it comes to ice cubes. The top countertop ice makers enable you to pick from diverse ice cube sizes. Starting from small frozen nuggets to bigger cubes for mixed drinks,having alternatives can improve your beverage experience.

4. Convenience and Operating Ease Operating an ice maker should be a breeze,despite technologically challenged individuals. Give importance to devices with intuitive controls and simple indicators. A few even have intelligent features that inform you when the ice bin is full or when more water is needed.

5. Rapidness of Ice Generation When you’re in immediate need of ice,waiting long periods can be frustrating. Go for a countertop ice maker that merges speed and quality. Top units produce ice cubes rapidly,ensuring you are never inadequate on frozen water.

In summary,the top countertop ice maker for you hinges upon your individual needs and preferences. Consider factors like size,ice production capacity,cube sizes,ease of use,and speed before making your investment. With the right countertop ice maker at your disposal,you’ll always have an easily accessible supply of ice to keep your beverages crisp and your gatherings well-stocked.