"Financial Planning: Form SSA-44 to Reduce Medicare Premiums
When you retire, your income often drops significantly, but Medicare bases its Income-Related Monthly Adjustment Amount (IRMAA) on your tax return from two years prior, when you may have been earning much more. This can result in unnecessarily high Medicare premiums at the start of retirement. For example, in 2025, a married couple with income above $212,000 begins to trigger IRMAA, increasing premiums by $1,000 to over $6,000 per person per year, depending on how high the income is. If that couple retires and their income falls to less than $212,000, they would still be charged the higher IRMAA unless they file Form SSA-44 to report "Work Stoppage" as a life-changing event. Upon filing, Medicare will use their new, lower income to set premiums, potentially saving thousands of dollars per year. If you're nearing retirement or have recently retired, beware of the Medicare costs and consider filing this form to avoid paying too much."
Reference: Brent Wilsey, Wilsey Asset Management