Medicare Part B Reimbursement
Every dollar counts, especially when you’re living on a fixed income.
Without a doubt, Medicare is one of the best deals around for seniors across the country, but for some it’s an especially sweet deal.
Medicare Part premiums are currently set at $99.90 for most seniors with Medicare. That’s not expensive for what it covers, but it adds up to nearly $1,200 per year. Considering the medical coverage they’re getting, most people don’t mind shelling out that $1,200. But there are some lucky people who don’t have to.
Correction. They do pay their Medicare Part B premiums—but then they get reimbursed for what they paid.
Some retired workers—particularly public employees—whose pension systems provide private health insurance may be reimbursed for their Part B premiums if they opt to enroll in Medicare upon reaching eligibility. Typically, if your pension system offers Medicare Part B reimbursement and you’re eligible, you’ll need to show your red, white, and blue Medicare card or a copy of it as proof of your Medicare enrollment and fill out a form requesting reimbursement of your Part B premiums.
Depending on your pension plan, it may be possible for your spouse and other family members with Medicare to be reimbursed for their Part B premiums.
Reimbursement checks are typically mailed out once a year.
If you pay more than the standard Part B premium, you may be eligible for full reimbursement. Some pension plans may offer reimbursement only up to the standard premium amount.
Reimbursement of Medicare Part B premiums isn’t available to most people, but it may be worth your while to ask your pension plan’s Health Benefits Administrator about it, especially if you’re a retired public employee. It won’t cost anything to ask, and if you get the answer you want, you probably won’t be short of ideas about what to do when you get that extra $1,200 or more per year in your pocket.
If you’re interested in learning about other ways to save money on your health care, one of our licensed, bonded representatives will be happy to discuss various moneysaving options with you.
For information about Medicare Advantage, Medicare supplement plans, and other great options likely to pay off in the long run, contact MedicareMall now and we’ll make it our priority to help you find the health insurance plan that’s best for you and your wallet.