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Russell Gloor Russell Gloor
Ask Rusty – Shocked by benefits loss due to Medicare increase
Dear Rusty: My wife and I have taken a Social Security “Cut” – no 3.2% raise for us, due to something called “IRMAA,” based on our income. We actually took, together, a $400 a month cut. As far as I can tell from what they told me, we are means-tested and were too successful, so our Medicare premiums were much higher, which resulted in our reduced Social Security for 2024.
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