Retirement Starts Today In the IRMAA Trenches with IRMAA Certified Planner, Paul Morrison
Jan 12, 2026
Paul Morrison, a financial advisor and the brains behind the IRMA Certified Planner designation, dives into the challenges retirees face with Medicare premiums. He reveals how the IRMAA surcharge can outpace Social Security COLAs, potentially consuming retirees’ benefits. With concrete examples, he explains how extended periods in higher IRMAA brackets can lead to out-of-pocket expenses. Paul also discusses appeal strategies and the importance of proactive tax planning to potentially mitigate these costs.
AI Snips
Chapters
Transcript
Episode notes
Medicare Premiums Outpace Social Security COLAs
- Medicare Part B and IRMAA surcharges have been inflating far faster than Social Security COLAs for years.
- That gap creates growing long-term cost risk for retirees, especially higher earners.
Compounding Premium Inflation Risk
- Medicare Part B base rates have averaged roughly 7.8% inflation over 20 years while Social Security COLAs averaged ~2–2.5%.
- Persistent premium inflation means IRMAA and base premiums compound to significantly raise retiree costs.
When Premiums Can Swallow Social Security
- Paul ran math on client IRMAA letters and trustee reports to model outcomes over time.
- He found Medicare premiums can eventually exceed a retiree's Social Security benefit after several years in higher IRMAA brackets.