IRMAA (Income-Related Monthly Adjustment Amount)

Additional premium amount higher-income beneficiaries must pay for Medicare Part B and Part D coverage. Based on modified adjusted gross income reported from your tax return from 2 years ago.

Medicare Savings Account

A type of Medicare Advantage plan that combines a high-deductible insurance plan with a special savings account for medical expenses.

Maximum Out-of-Pocket

The most you'll have to pay for covered services in a plan year. After you reach this amount, the plan pays 100% for covered services.

Medicare Advantage

Also known as Medicare Part C, these are private insurance plans that provide Medicare benefits as an alternative to Original Medicare.

Medicare Secondary Payer

Situations where Medicare isn't responsible for paying first. Often occurs when you have other insurance (like employer coverage) that must pay before Medicare.

Advance Beneficiary Notice

A notice that Medicare providers must give you before providing a service that Medicare might not cover.