What does Mauldin Insurance Group do?

Mauldin Insurance Group is an independent insurance agency based in Lexington, SC. We help individuals, families, and businesses across South Carolina find the right insurance coverage — including Medicare Advantage, Medicare Supplement, Part D, ACA health insurance, life insurance, final expense, auto, home, and commercial insurance. As an independent agency, we work with multiple top-rated carriers and shop the market on your behalf at no cost to you.

When do I need to sign up for Medicare, and what happens if I miss my enrollment window?

Your Initial Enrollment Period is a 7-month window that begins 3 months before the month you turn 65 and ends 3 months after. If you miss this window and do not have qualifying employer coverage, you may face a permanent late enrollment penalty on your Part B premium — 10% for each 12-month period you delayed — plus a gap in coverage. The Annual Enrollment Period runs October 15 through December 7 each year. We strongly recommend calling us before your 65th birthday to map out your enrollment timeline and avoid any costly mistakes.

What are the best Medicare plans available in Lexington and the Midlands area?

The best Medicare plan depends entirely on your health needs, your doctors, your prescriptions, and your budget. In the Lexington and Columbia, SC area, we represent 6 organizations offering 52 products in our service area — including Medicare Advantage plans, Medicare Supplement plans (Plan G and Plan N are most popular for new enrollees), and Part D prescription drug plans. We compare every available option side by side and help you choose the plan that fits your life at no cost to you. Call Jennifer at (843) 509-2462 for a free, no-pressure comparison.

What is the difference between Medicare Advantage and Medicare Supplement?

Medicare Advantage (Part C) is an all-in-one alternative to Original Medicare offered by private insurers. It typically bundles Parts A, B, and D in one plan — often with extra benefits like dental and vision — and usually has low or $0 monthly premiums, but uses provider networks and involves copays. Medicare Supplement (Medigap) works alongside Original Medicare, covering the 20% coinsurance and other out-of-pocket costs Original Medicare leaves behind. It carries a monthly premium but gives you the freedom to see any Medicare-accepting doctor nationwide with very predictable costs. We help you decide which approach is right for your health and budget.

How much does health insurance cost in South Carolina, and can I get help paying for it?

ACA health insurance premiums in South Carolina vary based on your age, household size, income, and the plan tier you choose. Many South Carolinians qualify for premium tax credits through the federal marketplace that significantly reduce their monthly cost — some qualify for plans as low as $0 per month depending on income. We help you determine your subsidy eligibility, compare all available plans, and enroll at no charge. Call us at (843) 509-2462 or (803) 920-8827 to get started.

How much life insurance do I actually need to protect my family in South Carolina?

A common starting point is the DIME method: add up your Debt, Income replacement (typically 10x your annual income), Mortgage balance, and Education costs for your children. For most South Carolina families this works out to $500,000 to $1,000,000 in coverage. Term life insurance is often the most affordable way to get there — a healthy 35-year-old can often get $500,000 in 20-year term coverage for $25 to $35 per month. We help you find the right amount and the right carrier based on your specific situation at no cost.

What is final expense insurance and who is it for?

Final expense insurance is a type of whole life insurance with a smaller face value — typically $5,000 to $25,000 — designed specifically to cover funeral costs, burial expenses, outstanding medical bills, and other end-of-life costs. The average funeral in South Carolina costs between $9,000 and $12,000. It is a good fit if you are between ages 50 and 85, want guaranteed coverage with no medical exam required, and need an affordable, predictable premium that never increases. Coverage typically starts at $20 to $70 per month. Call Jennifer at (843) 509-2462 for a free quote.

How much does homeowners insurance cost in South Carolina?

The average homeowners insurance premium in South Carolina runs approximately $1,400 to $1,900 per year for a typical single-family home, though this varies significantly based on your home's location, age, roof type, construction, coverage limits, deductible, and claims history. As an independent agency, we shop multiple carriers to find the best combination of coverage and price. We also review your dwelling coverage limit to make sure it reflects current rebuilding costs — many SC homeowners are significantly underinsured without realizing it.

Should I bundle my home and auto insurance?

Bundling your auto and home insurance with the same carrier typically saves 10% to 20% on both policies and simplifies your coverage — one agent, one renewal cycle, and one point of contact if you ever need to file a claim. Most major carriers offer a multi-policy discount that makes bundling a straightforward win for most families. That said, bundling is not always the cheapest option in every situation. We compare bundled and unbundled scenarios side by side so you can make an informed decision. Call Ben at (803) 920-8827 for a free auto and home quote.

What is the difference between liability and full coverage auto insurance?

Liability insurance covers damage and injuries you cause to other people in an accident — it is the minimum coverage required by South Carolina law (25/50/25 minimums). It does not pay for damage to your own vehicle. Full coverage typically adds collision coverage (damage to your own vehicle in an accident) and comprehensive coverage (theft, weather damage, falling objects, and animal strikes). Whether full coverage makes financial sense depends on your vehicle value, whether you have a loan or lease, and your personal financial situation. We help you think through the right level of coverage for your specific circumstances.

Does Mauldin Insurance Group serve areas outside of Lexington, SC?

Yes — we serve clients across all of South Carolina and are also licensed in North Carolina and Georgia. While we are based in Lexington and serve a large volume of clients in the Columbia, Irmo, Chapin, Cayce, West Columbia, and Lake Murray areas, we work with clients statewide by phone, video, and in-person when needed. Distance is never an obstacle and there is no extra charge for clients outside the immediate Lexington area.

Does it cost anything to work with Mauldin Insurance Group?

No — our services are completely free to you. Insurance carriers pay independent agents a commission when a policy is placed. Your monthly premium is exactly the same whether you enroll through us or go directly to the carrier. The difference is that we do the research, comparison, and shopping for you, and we stay in your corner at renewal and at claim time. There is no obligation and no pressure — just honest help from people who live and work in your community.

IRMAA: Why High-Income South Carolina Retirees Pay More for Medicare — and How to Appeal It

Ben J. Mauldin | Aug 02 2026 13:23

Two neighbors on Lake Murray, Kiawah, or in Beaufort can have the exact same Medicare coverage — and one quietly pays hundreds of dollars more a month for it. The reason is a rule most people never hear about until a letter from Social Security arrives: IRMAA.

If you have a pension, required minimum distributions (RMDs), investment income, or you just had one unusually high-income year, IRMAA can hit you. The good news: sometimes you can get it removed, and even when you can't, it's often temporary. I'm Ben Mauldin, a licensed agent in Lexington, and here's exactly how it works — including the appeal that actually succeeds and the one that doesn't.

What is IRMAA?

IRMAA stands for Income-Related Monthly Adjustment Amount. It's a surcharge that higher-income beneficiaries pay on top of their standard Medicare Part B and Part D premiums. Same Medicare, same benefits — just a higher bill because your income crossed a threshold.

It catches South Carolina retirees off guard because it's not based on your current income. It's based on a tax return from two years ago.

The 2026 numbers

Here's what IRMAA looks like in 2026 (the surcharge is based on your 2024 income):

The standard Part B premium is $202.90/month. IRMAA is added to that.
IRMAA starts once your 2024 MAGI exceeds about $109,000 (single) or $218,000 (married filing jointly).
As income rises through the brackets, the total Part B premium climbs to as much as roughly $689.90/month at the top tier (incomes of $500,000 single / $750,000 joint).
Part D gets its own IRMAA too — up to about $91/month added to your drug plan premium, using the same income brackets.

For a married couple both on Medicare in a high bracket, that can be thousands of dollars a year in surcharges — for coverage that's otherwise identical to everyone else's.

(Every one of these figures is indexed and changes each year, so confirm the current thresholds before you plan around them.)

The two-year lookback: why a good year still bills you

This is the part that confuses people most. Your 2026 IRMAA is based on your 2024 tax return (the one you filed in 2025). Social Security uses your MAGI — essentially your Adjusted Gross Income plus tax-exempt interest (yes, muni-bond interest counts).

So a strong income year in 2024 — a big RMD, a Roth conversion, a large capital gain, a property sale — can trigger a surcharge that shows up two years later, even if your income has since dropped. Understanding that timing is the key to everything below.

The appeal that works: a "life-changing event"

If your income dropped because of a qualifying life-changing event, you can ask Social Security to base your IRMAA on your lower current income instead of that two-year-old return. You do it with Form SSA-44. The qualifying events are:

Work stoppage (retirement) — the most common one
Work reduction
Marriage
Divorce or annulment
Death of a spouse
Loss of income-producing property
Loss of pension income
Employer settlement payment

The classic South Carolina case: you retired, your income fell, but Medicare is billing you based on your final high-earning year two years ago. That's a textbook SSA-44 appeal. You submit the form with proof — an employer statement, a pension award letter, or separation documents — and if the event drops you to a lower bracket, the surcharge can be reduced or removed.

The "appeal" that does NOT work — and why you may not need it

Here's where a lot of well-meaning advice gets it wrong. A one-time income spike — selling a house, a large capital gain, or a Roth conversion — is not a qualifying life-changing event. You generally cannot appeal IRMAA with SSA-44 just because you had a big-income year.

But here's the relief most people miss: because IRMAA uses a two-year lookback, a one-time spike only affects you for one year. Once that high-income tax year rolls off (two years later, when your income is back to normal), the surcharge goes away on its own. So if you sold a home in 2024 and got hit with 2026 IRMAA, it's frustrating — but it's temporary, and no form is needed to fix it. It self-corrects.

Knowing the difference — appeal the life-changing event, wait out the one-time spike — saves people a lot of wasted effort and worry.

How to plan around IRMAA before it hits

For higher-income South Carolina retirees, IRMAA is often manageable with planning, because you have some control over your MAGI in a given year:

Time Roth conversions and large withdrawals so you don't accidentally cross a bracket in a year that will drive IRMAA two years later.
Watch the RMD years. Required distributions can push you over a threshold — coordinate with your tax advisor.
Consider Qualified Charitable Distributions (QCDs) if you're charitably inclined, which can satisfy RMDs without raising MAGI.
Remember tax-exempt interest counts. Muni bonds don't lower your IRMAA MAGI.
Mind the "cliff." IRMAA brackets are cliffs, not slopes — going a single dollar over a threshold can cost you the full tier. Sometimes a small planning move keeps you under.

This is a coordinate-with-your-tax-professional issue, but knowing IRMAA exists — before the high-income year, not after — is half the battle.

What to Do If you got an IRMAA letter: figure out why. If a life-changing event (especially retirement) lowered your income, file SSA-44 with documentation — that's a winnable appeal. If it was a one-time spike like a home sale, know that it's not appealable but it's temporary and will drop off next cycle. Either way, I'm glad to help you make sense of the letter and coordinate the Medicare side.

Getting the Medicare structure right matters too — if you're weighing your overall coverage, our Medicare Advantage vs. Medigap in South Carolina guide and the 2026 South Carolina Medicare Advantage guide are good next reads, and you can always get local Medicare help in the Columbia area.

Got an IRMAA Letter? Let's Figure Out Your Options — for Free.

No-cost, no-pressure review. I'll help you understand why you were charged, whether an SSA-44 appeal fits your situation, and make sure your overall Medicare coverage is set up right.

📞 Call or Text Ben: 803-920-8827 🌐 MauldinInsuranceGroup.com 📍 100 Old Cherokee Rd STE F #167, Lexington, SC · Serving all of South Carolina

This article is general information, not tax or enrollment advice. Confirm IRMAA specifics with Social Security (ssa.gov), Medicare (1-800-MEDICARE), and your tax professional.

Frequently Asked Questions

What is IRMAA in Medicare? IRMAA (Income-Related Monthly Adjustment Amount) is a surcharge that higher-income beneficiaries pay on top of their standard Medicare Part B and Part D premiums. It's based on your income from a tax return two years earlier, so a high-income year can raise your Medicare cost two years later.

What income triggers IRMAA in 2026? In 2026, IRMAA generally begins once your 2024 modified adjusted gross income (MAGI) exceeds about $109,000 for single filers or $218,000 for married couples filing jointly. Higher brackets apply as income rises, up to incomes of $500,000 single or $750,000 joint. These thresholds are indexed and change each year.

How much is the IRMAA surcharge? In 2026 the surcharge is added to the standard $202.90 Part B premium, bringing the total to roughly $284 up to about $690 per month depending on income, plus an additional Part D surcharge of up to about $91 per month. The exact amount depends on your income bracket.

Can I appeal IRMAA? Yes, if a qualifying life-changing event lowered your income. Using Form SSA-44, you can ask Social Security to base your IRMAA on your lower current income. Qualifying events include retirement or work stoppage, work reduction, marriage, divorce, death of a spouse, loss of pension income, loss of income-producing property, and an employer settlement.

Can I appeal IRMAA because I sold my house or had a big capital gain? Generally no. A one-time income spike like a home sale, capital gain, or Roth conversion is not a qualifying life-changing event, so it can't be appealed with SSA-44. The relief is that IRMAA uses a two-year lookback, so a one-time spike only affects you for one year and then drops off on its own.

How long does IRMAA last? IRMAA is recalculated every year based on your most recent tax return on file. If it was caused by a one-time income spike, it typically applies for one year and then goes away once that high-income year rolls off. If your income stays high, the surcharge continues.

Does tax-exempt interest count toward IRMAA? Yes. The MAGI used for IRMAA includes your adjusted gross income plus tax-exempt interest, so municipal bond interest does not shield you from IRMAA.

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