Verizon Retirees Eligbile for Medicare PArt D Surcharge
POSTED 05/03/17 1:31PM
Verizon retirees are eligible for reimbursement of any Medicare Part D IRMAA (Income Related Monthly Adjustment Amount). The IRMAA is an additional premium for Medicare Part D. This additional premium is based on exceeding various income thresholds based on you IRS filing status, i.e. filing as an individual or married filing jointly. The addition premiums are three tier based, so the hirer the income the higher the additional premium.
To receive reimbursement you will need to mail or fax a copy of the letter you received from the Social Security Administration notifying the IRMAA applies to you and the dollar amount you are being billed.
Verizon Benefits Center
P.O. Box 8998
Norfolk, VA 23501-8998
In December of 2003 Congress passed the â€śMedicare Prescription Drug, Improvement, and Modernization Act (MMA) of 2003â€ť. Section 1839 of the Social Security Act (as amended by section 811 of the MMA) creates an income-related reduction in Part B premium subsidies effective January 2007. This has the effect of raising the Medicare Part B premium for such individuals by requiring that they pay an income-related monthly adjustment amount (IRMAA) in addition to the standard premium and any penalties for late enrollment or re-enrollment.
For more information on how this additional premium is calculated and who is affected you can go to hhtp://www.socialsecurity.gov/pubs/media/pdf/EN-05-10536