In 2021, I have a client who converted approximately $200,000 from my traditional IRA to a Roth IRA. This will substantially increase the monthly charge for medicare premiums. Is there any way I can appeal this or talk to Social Security and get a reprieve, since this is a onetime event and not likely to reoccur?
I converted my IRA to Roth and had to pay extra to medicare 2yrs later. That is now over, what I want to know is when I withdraw from the Roth will this now still be counted toward my medicare ParTs B&D.?
None of your tax free Roth IRA distributions will affect your Medicare Premiums (IRMAA). However, it is possible that some of these Roth IRAs are not yet qualified (held 5 years plus age 59.5), and if the distribution is large enough to include non qualified gains, those gains would be included in AGI for IRMAA purpose. If you want to avoid this, limit your non qualified Roth distributions to your Roth IRA. That means if your only Roth contributions were conversions, limit your Roth IRA distributions to the amount you converted until your Roth IRA becomes qualified.
Permalink Submitted by Alan - IRA critic on Mon, 2022-11-07 16:51