- Are enrolled in Part A and Part B.
- Do not rely on government or other assistance for your Part B premium.
- Live in the zip code service area of a plan that offers this program.
- Enroll in an MA plan that provides a giveback benefit.
How do you qualify for $148 back from Medicare?
How to get $148 back from Medicare Around 40% of Medicare Advantage plans have no monthly premium, but did you know some plans actually reduce your Part B premium? The Medicare giveback benefit, or Part B premium reduction plan , is becoming more available and popular among beneficiaries.
How can I get $144 back on Medicare premiums?
Mar 18, 2022 · Instead of paying the full $170.10, you’d only pay the amount with the giveback benefit included. For example, if you typically pay $170.10 per month but your MA plan’s giveback benefit is $50, you don’t get $50 back each month. Instead, you’d only pay $120.10 per month, keeping that $50 in your wallet.
How do I find Medicare Part B Giveback plans?
Mar 18, 2022 · You can use Medicare’s Plan Finder to find plans in your area that offer the giveback benefit. If you look under the “premiums” section in the Plan Details, plans with a giveback will have a “Part B premium reduction” listing and amount. This tells you the plan offers this program, as well as how much you’ll receive each month.
What is Medicare’s give Back benefit?
Mar 18, 2022 · The giveback benefit, or Part B premium reduction, is when the Part C Medicare Advantage (MA) plan reduces the amount you pay toward that premium. Your reduction could range from less than $1 to the full premium amount. Even though you’re paying less for the monthly premium, you don’t technically get money back.
What is this benefit?
The giveback benefit is actually part of the Part B premium reduction that first appeared in 2003. A Federal regulation allowed for a reduction in payments of the Medicare +Choice plans and that helped to fund the giveback.
How do you qualify?
There are two common ways to get up to $144 back on Medicare premiums.
Always Be Wary of Scams
Remember to watch out for ads that say “you may” qualify. The key word here is MAY. Also, these are usually ads that come from insurance agents or companies that sell leads to agents. Medicare or Social Security will never call you and if you are getting a letter from them it will clearly state who it is from.
Additional Benefits Possible
Yet another question we hear all the time is “am I getting every benefit I can?”#N#Things to consider:#N#• Ads you see can list all the benefits that are on every plan, everywhere.#N#• No plan will have every benefit in existence.#N#• Some benefits may not be offered in your county or state.
Veterans and Medicare, How Does it Work?
If you are a Veterans who is almost 65, you are ready to tackle learning your Medicare options. There are a lot of pieces to the puzzle we would like to share so that you are successful in your Medicare journey, beginning with Medicare Part B.
Did You Know You Could Be Eligible for Additional Benefits?
Did you know that qualifying individuals may be eligible for additional benefits and additional enrollment periods throughout the year? Depending on your income and assets Medicare offers assistance with your prescription drug premium costs, as well as the actual prescription drug costs.
Watch Out for Medicare Open Enrollment TV ADS and Telephone Solicitations
As we near the end of this year’s open enrollment season, it is prime time for people to try and get you to change insurance plans. Many of our clients have been experiencing an abundance of calls stating they can offer more benefits than you have now.