Mercer Advisors
Sharing Knowledge

Question

What is the difference between IRMAA and Social Security tax?

Answer

Social Security tax refers to the federal income tax applied to your Social Security benefits based on your combined income. IRMAA is an income-related surcharge added to your Medicare Part B and Part D premiums based on your MAGI from two years prior.

Related FAQs

Where can I find the current IRMAA brackets?

How can I avoid the IRMAA surcharge?

Can Roth conversions affect my Medicare premiums?
Tax Planning Retirement Charitable Giving Social Security Living in Retirement Tax Tips & Tricks Healthcare & Medicare FAQs
Last Updated May 27, 2026
Previous Next

Further Learning

Retirement Article

How SECURE 2.0 Is Reshaping Your Retirement Savings Options

The SECURE 2.0 Act of 2022 introduced significant updates to retirement savings rules — automatic enrollment, emergency savings accounts, and enhanced catch-up contribution limits — that can meaningfully change how you plan for the future.

Listen
Investment Management Podcast

Episode 39 – Financial Planning Is a Prerequisite to Successful Investing

Don Calcagni, Chief Investment Officer, breaks down why financial planning should be the essential first step to building, sustaining, and transferring wealth.

Listen
Investment Management Podcast

Episode 525 – Investment Philosophy vs. Strategy

Discover how your core beliefs shape investment decisions. John Walker and Jason O’Meara break down philosophy vs. strategy for long-term success.

Women & Wealth Guide

Retirement Planning for Single Women: A Complete Guide

A practical guide to retirement planning for single women — covering Social Security, long-term care, estate planning, and an age-specific checklist.

Back to Sharing Knowledge

About Mercer Advisors

We exist so you don’t have to worry about money. For more than 40 years, we’ve taken the sophisticated, time-tested approach that many ultra-high net worth individuals use to help manage their financial lives and made it accessible to more families.

Explore Our Solutions

Financial Planning
Estate Planning
Tax Planning & Preparation
Insurance Solutions
Investment Management
Trustee Services

Want to learn more about Mercer Advisors?

Let’s Talk