Medicare Part B 'Giveback': Can a Plan Really Reduce Your Part B Premium?

Use this before you call.

Want to see which plans in your county have a Part B premium reduction? Call GetFastRates.com and a licensed agent will check.

Ask whether the plan you are considering has a Part B premium reduction, and how it is applied to you.

Find out whether you pay your Part B premium from Social Security or by a bill, since that changes how you see it.

Read the Summary of Benefits line for it, and ask the agent to point to it.

Compare the whole plan: doctors, prescriptions, copayments and the network, not just the reduction.

Check each year: plans can change or drop the reduction.

Call us if you want to see which plans in your county have one.

How it works

Everyone with Medicare Part B pays a premium for it. A plan that offers a Part B premium reduction pays part of that premium for you, so the amount taken from your Social Security check goes down. The plan chooses how much, and it is part of that plan's benefits, not a payment from Medicare.

What the ads leave out

Commercials about money back in your Social Security check usually show it as something anyone on Medicare can get. It is not.

Only some Medicare Advantage plans offer it, and only in some counties.
You have to be in that plan, which means leaving Original Medicare if that is what you have now.
The plan has a network of doctors and rules about care that might not fit you.
The reduction can change from one year to the next.

How to compare fairly

A lower Part B premium is one piece. Look at what you would pay for care and drugs, whether your doctors are in the plan, and what happens if your health changes. A plan with a reduction and a network that does not include your doctor may cost you more than a plan without one.

Common questions about this topic

Is a giveback available with Original Medicare?

No. It is a benefit of certain Medicare Advantage plans.

Does it show up as a check or a card?

It reduces the amount taken from your Social Security check. It is not a separate payment, and you should never be asked for payment details to receive it.

Can I get it and keep my doctors?

Only if your doctors are in the plan's network. Check before you join.

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Tools that can help

Medicare Enrollment Period CalculatorFind your Medicare enrollment window and what it means for your timing.Medicare Part B Late Enrollment Penalty CalculatorEstimate whether a Part B late enrollment penalty could apply to you.Medicare Plan Ending FinderCheck your carrier and ZIP code against current, verified plan-ending records.

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