Many New York State retirees will pay hundreds of dollars more in healthcare premiums each month under Governor Kathy Hochul's budget proposal to eliminate a Medicare reimbursement program.
The Income-Related Monthly Adjustment Amount (IRMAA) has been a staple of the New York State Healthcare Insurance Program for years and covers the cost of premiums that, under federal law, are more expensive for higher-earning retirees under Medicare Part B and D. In 2026, if a retiree's working income is over $109,000 a year, or $218,000 as a couple, they qualify for the higher premiums under Medicare – between $81 and $487 a month – that are covered under IRMAA.
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