Reducing Your Medicare Part B Premium
In 2012 the standard monthly premium for Medicare Part B coverage is set at $99.90. From there, premiums are tied to annual income, so Part B coverage can cost anywhere from $99.90 to $319.70 a month.
Certain Medicare Advantage (Medicare Part C) plans, however, can help reduce your Medicare Part B premium significantly.
Some Medicare Advantage plans offer an additional benefit by reducing the amount of your Medicare Part B premium. This doesn’t necessarily mean all of these plans will save you money in the long run, but since you need Medicare Part B coverage anyway in order to enroll in Part C, you can’t go wrong by looking into whether any Part C plan you are considering will pay all or part of your Part B premiums. After all, every dollar counts.
Joining a plan that offers this benefit may save you money, so you should carefully read the plan materials before joining in order to determine whether this benefit is included. Of course, there are many other factors to consider in choosing a Medicare Advantage plan, but reduction of Plan B premiums can be a big incentive.
Every Medicare Advantage plan offering this benefit must make it available to everyone who joins the plan. The amount of the Plan B reduction offered by the plan, however, can change from year to year. Regardless of the amount of reduction, there will be no reduction in your Part B coverage. No matter what you pay for your Part B coverage, you will continue to receive all Medicare Part A and Part B covered services. Similarly, reduction in your Medicare Part B premium costs will not reduce or affect the services and care provided by your Medicare Advantage plan.
If you would like further information about Medicare Advantage or any other aspect of Medicare, contact a licensed, bonded MedicareMall representative and let us lead you with confidence through the Medicare maze.