According to a recent study, just 18% of Baby Boomers are placing a high priority on planning for receiving nursing or long-term care during retirement. Yet, in the same group of people, 45% expected they would need long-term care at some point.
Since 2003, Medicare has forced those of higher incomes to pay more for Medicare Part B and Part D. Although not commonly known by its official name, this premium increase is called the Income-related Monthly Adjustment Amount, or IRMAA for short.