(292.542 – 268.412) / 268.412 x 100 = 9.00% (adjusted to the nearest 1/10 of 1%)
268.412 is the average CPI-W for July, August and September 2021.
The July CPI data – reported in mid August – will be first month actually used in the final COLA calculation
For those who plan farther ahead and are interested in IRMAA brackets see Harry Sit’s webpage https://thefinancebuff.com/medicare-irmaa-income-brackets.html
Right now, just adjust 2022 brackets by 9.1%
Dick Richard D Quinn Blogging at Quinnscommentary.net and HumbleDollar.com Twitter @quinnscomments
That may be okay to estimate 2023 IRMAA. But 2023 IRMAA is based on last year’s AGI and can’t be changed at this date. Sit’s link is providing estimates for 2024 IRMAA for those of us who are trying to max Roth conversions in 2022 – the basis for IRMAA in 2 years.
Thank you for keeping us up to date on the latest COLA it’s more then is provided by the Senior League