Unmask Hidden IRMAA Penalties with OnPointe Retirement Planner

OnPointe Software is releasing an IRMAA calculator which projects the Income-Related Monthly Adjustment Amount (IRMAA) surcharge (aka, penalty).

FORT MYERS, FLORIDA, UNITED STATES, June 26, 2024 /EINPresswire.com/ -- OnPointe Software is releasing its newest feature, an IRMAA calculator. This tool accurately determines if a client is projected to be subject to the Income-Related Monthly Adjustment Amount (IRMAA) surcharge (aka, penalty). The IRMAA penalty is the additional premium Medicare enrollees pay for their Medicare Part B and Part D premiums based on their MAGI (Modified Adjusted Gross Income).

Considering that many consumers and even more advisors are NOT familiar with IRMAA, advisors who can calculate projected IRMAA penalty numbers for clients will have a competitive advantage over their competition.

The IRMAA calculator is built into the OnPointe Retirement Planner providing a user-friendly/web-based application.

Key Features of the IRMAA Calculator Software:
1. Utilizes the latest IRS and Social Security Administration data to provide precise IRMAA calculations.
2. Estimates the future IRMAA impact based on anticipated income, inflation and tax bracket changes.
3. Calculates the effect a Roth IRA conversion may have on the IRMAA penalty.
4. Displays the penalty numbers in clear/easily comprehensible charts.

Recognizing the significant impact Medicare costs and the IRMAA penalty can have on retirement planning, Roccy DeFrancesco, JD—author, industry trainer, and marketing expert based in Fort Myers, FL—decided it was essential to incorporate the IRMAA penalty calculation into OnPointe’s Retirement Planner.

About OnPointe Retirement Planner
OnPointe Software is built by advisors for advisors. Its innovative Retirement Planner enables advisors to quickly construct a comprehensive plan with the industry’s most powerful charts/graphs all with an output that can be kept under 10 pages.

For more information visit, https://onpointesoftware.com/irmaa-calc

Lauren DeFrancesco
OnPointe Software
+1 2693251998
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