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Medicare Part B Give Back Benefit


The Medicare Part B give back is a benefit specific to some Medicare Advantage plans. This benefit covers up to the entire Medicare Part B premium amount for the policyholder.

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The give back benefit can be a great way for beneficiaries to save, as the premium is deducted from their Social Security checks each month. However, not all Advantage plans offer this benefit.

Plan availability depends on your location as these plans are not available in every ZIP Code. Additionally, you’ll first want to know if a Medicare Advantage plan will provide the best coverage for your needs.

What is the Medicare Part B Give Back Benefit?

The Part B give back benefit helps those on Medicare lower their monthly health care spending by reducing the amount of their Medicare Part B premium. When you enroll in a Medicare Advantage plan that offers this benefit, the carrier pays either a part of or the entire premium for your outpatient coverage each month.

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Is the Medicare Give Back Benefit the Same as the Medicare Part B Premium Reduction?

Part B premium reduction is another term for the give back benefit. Depending on the region where you live, you may see slightly different names for the program.

However, the feature functions the same across plans. No matter what you call it, the give back benefit, or Medicare Part B Premium Reduction is put in place to save policyholders money on their health care costs.

Are There Any Medicare Advantage Plans With Part B Premium Reduction?

Part B premium reduction is only available through Medicare Advantage plans. The give back benefit is not part of Original Medicare. So, to be eligible for a premium reduction, you will need to be enrolled in Part C of Medicare.

Which Companies Offer Medicare Part B Premium Reduction?

A variety of carriers offer give back plans. However, the list of carriers with available plans offering this feature differs depending on your location. The most popular carriers that offer a premium reduction are Humana, Cigna, and Aetna – among others.

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In the summary of benefits or evidence of coverage, you’ll see a section that says Part B premium buy-down. In this section, you can see how much of a reduction you receive from your plan. However, if you are not able to locate this, call the customer service number on the back of your card or contact your licensed agent to receive assistance in understanding the give back you will be receiving.

It is important to review all Advantage plans and carriers available in your area to maximize your chances of finding a give back plan to enroll in.

Who Is Eligible For The Part B Give Back Benefit?

To be eligible for a give back plan, policyholders must meet specific criteria. First, you must be enrolled in Medicare Part A and Part B and pay your own premiums. This means that if your premiums are currently being covered by a state or local program, you will not qualify.

Additionally, you must live within the service area of a plan that offers a premium reduction plan. Currently, there are 48 states in the U.S. that offer this benefit.

Keep in mind, give back plans work directly with Social Security, so, no direct payments are sent to you by the carrier.

How Much Do I Get Back With a Part B Give Back Plan?

The amount you get back varies by plan. Amounts can range from $0.10 in some counties up to the full standard premium for the year.

The amount you get back will depend on the options available in your area. In some cases, policies of the same name will have different premium give back amounts depending on the county. Hence, it is important to understand your Medicare Advantage plan entirely before enrolling.

FAQs

How can Medicare Advantage plans give back some of your Part B premium money?
The federal government pays Medicare Advantage plans to handle your claims. Once you enroll, Medicare doesn’t pay the claim; the policy pays. These plans have a contract with Medicare and Social Security to provide this kind of benefit.
Do Medigap plans offer a Part B premium reduction?
No, Medigap plans don’t cover the Medicare Part B premium. This is because Medicare is required to pay their portion of medical costs before Medigap kicks in. Medigap plans work as secondary coverage to original Medicare.
How long will Social Security need to adjust my give back amount?
It can take Social Security one to three months to begin your Medicare Part B premium rebate. After waiting, you can expect to see a regular increase in your checks.
How much does the Medicare Part B premium reduction plan cost?
Most often, Medicare Advantage plans with a premium reduction benefit cost $0 each month. However, you will need to speak with a licensed agent to learn more about costs for plans near you.
What ZIP Codes qualify for the Medicare give back?
There are multiple ZIP Codes across 48 states that offer plans with the Medicare Part B premium reduction feature. Because plans with this benefit are available in a multitude of places and each ZIP Code has different plans available, it is important to speak with an agent who can direct you to the best policy to fit your needs.

How to Get a Medicare Part B Give Back Plan

It’s important to compare Medicare Advantage and Medigap plans before enrolling in either option. Many beneficiaries are unaware of the many limitations that come with Medicare Advantage plans, so a Medicare Part B premium reduction may not be worth the additional cost-sharing for some. It is essential to fully understand your policy limitations before deciding on a plan.

If you want to keep Original Medicare but wish to save money on monthly premiums, you should consider the High Deductible Plan G or High Deductible Plan F Medigap options. Another comprehensive yet affordable Medigap option is Plan N.

Whichever route you decide to go, speaking with a licensed agent is always helpful when comparing benefits. To see what Medicare Advantage options are available in your area, enter your ZIP Code in this portal.

Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

18 thoughts on “Medicare Part B Give Back Benefit

  1. I’m receiving SS. Benefits less than $1,000 monthly I live in KY I have no car are there any benefits in KY that can I apply for

    1. Hi Marilyn, it is always a good idea to start at your local Medicaid office. From there, they will be able to let you know if you qualify for any low-income programs.

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