Terms in plain English
Medicare jargon in plain English. IRMAA, MAGI, Part B, Part D, Medigap, what each means and how it changes your monthly bill.
IRMAA
Income-Related Monthly Adjustment Amount: a surcharge Medicare adds to Part B and Part D premiums when your modified adjusted gross income (...
MAGI (Modified Adjusted Gross Income)
Adjusted gross income from Form 1040 line 11 plus tax-exempt interest from line 2a. Used by Medicare to determine IRMAA. It includes wages, ...
Medicare Part B
The medical insurance side of Medicare: doctor visits, outpatient services, preventive care, durable medical equipment, and some home health...
Medicare Part D
The prescription drug benefit. Sold by private insurers but federally regulated. The 2026 base beneficiary premium is approximately $36.78 p...
SSA-44
The Social Security Administration form used to request an IRMAA recalculation after a major life-changing event. Eight events qualify: marr...
Medigap
Private supplemental insurance that fills the gaps in Original Medicare: coinsurance, copays, and the lack of an annual out-of-pocket maximu...
Two-Year Lookback
The rule that Medicare uses your federal tax return from two years ago to set your current premium, because that is the most recent IRS data...
Medicare Advantage (Part C)
A private alternative to Original Medicare that bundles Parts A and B (and usually Part D) into a single plan, often with extras like dental...