article thumbnail

An Introduction to IRMAA

Money Talk

Many are middle income taxpayers who diligently saved and invested for 4-5 decades in tax-advantaged plans. As I wrote in my book Flipping a Switch , some older adults must “plan for higher taxes in the future, especially when required minimum distributions (RMDs) kick in.” IRMAA surcharges. to $573.30 for Medicare Part B and $12.40

401(k) 244
article thumbnail

5 Great Reasons to Celebrate HSA Awareness Day This Year

Benefit Resource Inc.

HSAs were first legislated into existence in 2003. A Health Savings Account is one of the most versatile pre-tax benefit accounts available and is a great fit for a wide range of people. Did you know they also play nicely with your 401(k)? Favorite Quote: “Stow it & Grow it.” Best Asset: Adaptability!

401(k) 75