What Qualifies As a Life-Changing Event and How Will That Affect IRMAA? Ask The Hammer: If you had a major life-changing event and your income has gone down, you may request a reduction in your income-related monthly adjustment amount or IRMAA, according to Jeffrey Levine of Buckingham Wealth Partners aka The Hammer. Catch all of the Ask The Hammer episodes at this link: https://www.finstream.tv/videos/ask-the-hammer/