Benefits Breakdown: What is the $144 Medicare Give Back Benefit?

Want to learn more about the $144 Medicare Give Back benefit? Give our experienced, licensed agents a call today at (800) 950-0608 with any questions you may have regarding qualifying Medicare Advantage plans.

Did You Know that Medicare Plans Offer More Benefits Than Just Medical Assistance?

If you’re familiar with Medicare, or you’re enrolled in the system, you may already know that Medicare plans offer a variety of medical benefits geared toward helping you receive the best healthcare available to you. However, you may not have known that Medicare plans can offer certain benefits that can help you in other ways. One such benefit is the Medicare Give Back benefit.

As your go-to resource for all things related to Medicare, it’s our goal to help you learn about other helpful benefits that a Medicare Advantage plan can offer. Today, we’ll be going over the $144 Medicare Give Back benefit.

So, What Exactly is the $144 Medicare Give Back Benefit?

The Medicare Part B Premium Reduction plan, also known as the Medicare Give Back benefit, is a program that’s offered by some Medicare Advantage (Part C) plans in certain areas. It’s a program designed to cover some (or all) of your Medicare Part B premiums. 

While many individuals receive Medicare Part A at zero cost, everyone is required to pay monthly Medicare premiums of $170.10 (as of 2022) for Medicare Part B. If you have a Medicare Advantage plan that participates in the Medicare Give Back benefit and you’re also enrolled in Original Medicare — Medicare Part A and Medicare Part B — your Part C Advantage plan may reduce the monthly premium you pay for Medicare Part B.

It is important to note that you do not receive a rebate check for the amount of the Medicare premiums covered. It’s also important to realize that you may not receive a full premium reduction. You’ll see the reimbursement in one of two ways, depending on how you pay your Medicare premiums:

• Through a returned amount returned to your Social Security check, if you pay your Medicare premiums through Social Security
• If you pay Medicare directly, your reimbursement will show up as the reduced amount that you pay for Medicare Part B each month

The amount reduced from your Medicare premiums is heavily dependent on your carrier and your service area. In some cases, your full reduction amount may be as little as $1. In others, you may receive a reduction for the full amount of your Medicare premiums. In most cases, your premium reduction will fall somewhere in between.

What Do I Need to Do to Qualify for the Medicare Give Back Benefit?

In the past, those who knew of the benefit believed that you needed to be in a certain income tier to receive it. Luckily, this has never been the case. The criteria you’ll need to meet in order to be eligible to receive the benefit include:

• Current enrollment in Original Medicare (Medicare Part A and Medicare Part B)
• Bearing full responsibility for paying Medicare Part B premiums
• Living in a service area that offers Medicare Advantage plans that participate in the Medicare Give Back benefit

How Do I Know if I’m in a Participating Service Area?

The good news is that Medicare Give Back benefit zip codes are growing, and the program itself is more widely available now than it’s ever been before. In order to find out whether or not your area offers Medicare Advantage plans that feature the Medicare Give Back benefit, you can search for Medicare Advantage plans that participate in the Medicare Give Back Benefit program by zip code. 

Another way you can find out whether you live in an area where Medicare Advantage plans offer this amazing benefit is to speak with an experienced, licensed agent. 

For instance, our friendly, experienced, and licensed agents at MedicareInsurance.com are available to answer any questions you may have about the benefit and whether or not it is offered in your area.

Need help finding out whether or not Medicare Advantage plans in your area offer the benefit? Our experienced, licensed agents can help! Give us a call today at (800) 950-0608 with any questions you may have about Medicare plans in your area.