A single person age 77 had a MAGI of 204,000 in 2014 because he withdrew $150,000 from his IRA. $110,000 of that was gifted to his sons who were in financial trouble and the rest went for FIT. Would this be considered a life-changing event and he would qualify for a surcharge reduction?
Your answer is in the SSA POMS (Program Operations Manual System). Specifically section HI 01120.005 Life Changing Events (LCE). Your item is not listed in paragraph C as an LCE. In paragraph D, there are examples of one time events that cause a bump in income in one year. These are non-qualifying life events (NQLCE) that the beneficiary can use to request that a more current tax year's income be used for calculating the medicare bump. Your item is not in paragraph D. However, this paragraph merely lists some examples and it is not inclusive. So... unless someone else reading this has a specific instance where your particular NQLCE was accepted by the SSA and a different tax year's income was used, you have two choices....
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