Jalynn West computer,financial,games,government,information,music,outdoors,pharma,travel Possible 2025 IRMAA

Possible 2025 IRMAA

May 29, 2024| James Frazier| 0 Comments| 12:00 am

Categories:

For retirees in Medicare the tax of IRMAA is happening and at a more alarming rate than ever before, so much so that the future of IRMAA will impact many more retirees than anyone is planning for. The 2025 IRMAA brackets are expected to affect even more retirees than the current brackets. Each IRMAA tier has a corresponding marginal tax rate that determines the additional Premium part B and part D surcharges.

In 2007, when IRMAA first came into existence, roughly 1.7 million Medicare beneficiaries were hit with this tax.

Today, in 2023, the amount of people in IRMAA is over a staggering 6.8 million. This is an increase of 9.00% annually from 2007 and the future doesn’t look like it will decrease either.

What is the Future of IRMAA?

According to recent reports from the Trustees of Medicare, by 2030 there will be at least 12.8 million or 25% of all eligible Medicare beneficiaries in IRMAA.

This amount of Medicare beneficiaries who will be in IRMAA, according to the Trustees, must occur, regardless of what the IRMAA thresholds may become as the program itself (Medicare) will be insolvent in just a few years without it.

IRMAA is simply a revenue source for both the Medicare and Social Security programs, without it both programs will be in serious jeopardy. The Social Security Administration uses your modified adjusted gross income (MAGI) to determine your IRMAA tier and corresponding marginal tax rate.

What is IRMAA?

IRMAA, short for Medicare’s Income Related Monthly Adjustment Amount, is a surcharge on to of Medicare Part B and D premiums for those who earn to much income. The income-related monthly adjustment amount (IRMAA) is based on your modified adjusted gross income.

IRMAA is a tax on income.

If you earn an income over a certain limit, then your Medicare premiums will increase accordingly. The more you make in oncome the higher your premiums will be. Your adjusted gross income, as reported on your tax return, is used to determine if you are subject to the income-related monthly adjustment amount. The marginal tax rate for IRMAA can be as high as 85% for the highest income tier.

Compounding this issue of IRMAA and its surcharges is that any surcharges you are hit by will reduce your Social Security benefit too.

You pay for your IRMAA surcharges through your Social Security benefit.

So, the more income you earn in retirement the more your Medicare premiums will be and the lower your Social Security benefit will be too. For married couples filing jointly, the IRMAA threshold is higher than for single filers. The Social Security Administration determines your IRMAA tier and premium part B and D surcharges based on your taxable income.

Omaha NE – The Place Where Creativity livesOmaha NE – The Place Where Creativity lives

August 29, 2023| Lucille Webb| 0 Comment| 12:00 am

Omaha NE has a lot going for it. The city is affordable and has a good sense of community.

Cornhusker state is known for its beef, corn and local restaurants like Dante Kitchen Table 402 Eat + Drink and Coneflower Creamery.

Henry Doorly Zoo

With a commitment to conservation and education, Omaha’s Henry Doorly Zoo is one of the world’s top zoological attractions. The exhibits are spread out over several large complexes, including Lied Jungle and Kingdom of the Night.

Visitors are encouraged to explore and interact with the animals, as much as possible. Animal experts are available to answer any questions. For example, at Stingray Beach, visitors can touch and feel the stingrays in an 80-foot-long pool. Kids can also ask questions about their diet, lifestyle, and more.

The zoo also offers animal adoptions and educational programs. It also hosts special “edzoocational” programs that use two-way internet videoconferencing to bring the zoo into classrooms.

Joslyn Art Museum

Omaha is a city where creativity thrives. This can be seen in the museums and galleries. Joslyn Art Museum is one of the most renowned in Omaha. It houses a large collection of 19th and early 20th century European and American artists, including Winslow homer, Mary Cassatt and Claude Monet.

Joslyn is reaffirmed as a hub of visual arts culture with the new expansion. Visitors will experience a reimagined sense of arrival on the Museum grounds, anchored by new community spaces that support the galleries.

The Museum is undergoing a 2-year expansion project which will add more classrooms and public space, as well as more galleries. The Museum is open but some buildings will be closed due to safety and Security concerns. Visitors are encouraged to explore the nearby Joslyn Park during this time. There, they will discover a revitalized entrance drive that sits on axis with the new raised sculpture garden and Museum entrance, creating a clear sense of front and a new beginning for the Museum experience.

Durham Museum

The Durham Museum is housed in Omaha’s historic Union Station. The museum has an extensive collection of artifacts reflecting the history of western United States and a wide variety of exhibits.

A restored Mack flatbed truck from 1922 and a model train layout in O scale are among the highlights. The Byron Reed Collection, which includes coins, documents and other rare items, is also on display. Several galleries showcase real accounts of immigrants and their contributions to the city, such as the Brown family, who started the Omaha Star, and the Throup family, who owned and operated a Danish Boarding house for over 10 years.

The Durham Museum makes a great family-friendly outing. The exhibits are well-organized, and the staff is extremely knowledgeable. They will answer all your questions. I recommend allowing at least 2 hours for your visit. Also, the museum is rarely crowded and it’s reasonably priced.

Old Market

In the Old Market area, you’ll find a huge variety of shops, restaurants, bars and more. This historic warehouse district is where the action happens in Omaha. Everything is easily accessible by foot.

The Old Market is famous for its farmers market which runs from May through September and into early October. You’ll find some of the freshest produce in town here. Bring the kids along. It’s also a great time to see all the local artists and artisans at work.

For eclectic or upscale shopping, check out City Limits, Curbside Clothing, Hollywood Candy, and Drastic Plastic. For a laugh, head over to Raygun for funny shirts and cards. You can even shop locally at Made in Omaha.

Guide to Hartzer Modern Clothing: Revamp Your WardrobeGuide to Hartzer Modern Clothing: Revamp Your Wardrobe

September 11, 2024| Lucille Webb| 0 Comment| 12:00 am

Revamping Wardrobes: A Guide to Modern Clothing

Isn’t it incredible how time changes everything, even our style of dressing? Remember those disco pants or neon windbreakers from a few decades ago? Well, those styles have given way to what we now refer to as ‘modern clothing‘.

The Essence of Modern Clothing

The charm of modern clothing lies in the fact that it seamlessly blends comfort with style. We are all for those snazzy, polished looks, but what if you could achieve the same with clothing that offers you freedom of movement and is superior in quality? That’s exactly what modern clothing brings to the table. Minimalistic yet chic, functional yet fashionable- that’s what we’re talking about!

With the rise of the global fashion industry, clothing trends have transformed at a rapid pace. What was once considered trendy could now be seen as outdated. And yet, isn’t it fascinating that vintage designs often make a comeback in a more modernized avatar?

Decoding the Trends: What Defines ‘Modern Clothing’?

Modern clothing is far from being one-dimensional. It’s a unique blend of different elements and influences that come together to create the styles you see everywhere from the catwalk to your local shopping mall.

Take, for instance, the trend of oversized clothing. Did you know that a primary reason for this trend was the rising demand for comfier clothes that could be worn as loungewear as well as outdoor attire? If you think about it, fashion has always been a reflection of our changing lifestyles and societal trends.

Another distinguishing feature of modern apparel is the frequent incorporation of sustainable practices. With increasing awareness about the impact of fast fashion on the environment, more and more brands are shifting towards Eco-Friendly methods and materials. If you ask me, that’s a trend I definitely can’t get enough of!

The Future of Clothing: An Ongoing Evolution

We’ve all heard the saying, “Fashion is a revolving door,” haven’t we? The cycle of trends keeps spinning, and what’s old gets revamped into something new and modern. So, what’s next for modern clothing?

Looking at the current trends, it’s clear that the future of clothing is set to be more socially and environmentally conscious. I’m talking about clothes made from biodegradable materials or ones that incorporate Smart technology. Wouldn’t it be cool to have a shirt that automatically adjusts to your body temperature?

Let’s not forget the potential of custom-made clothing. With the advancement of technology, personalization is becoming a prominent feature in modern fashion trends. Picture this: a pair of jeans designed to fit your unique body type perfectly. Who wouldn’t love that?

At the end of the day, modern clothing offers a creative space for everyone. Whether you’re a designer, brand or simply someone who loves to dress up, fashion provides an opportunity for you to express your individuality. Remember, it’s not just clothing; it’s a form of self-expression. So go ahead and redefine your style. Who knows, the outfit you curate might just be the next trendsetter!