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Part B premium reduction give back plans
What is the “giveback” benefit and how do I qualify for it? First, a Federal regulation allowed Medicare Advantage plans to receive a reduction in its payments, which in turn helps to fund the giveback. In 2021, there will be 48 states offering a Medicare Advantage plan with a Part B premium reduction. Second, to qualify for a premium reduction you must be a Medicare beneficiary enrolled in Part A and Part B, be responsible for paying the Part B premium, and live in a service area of a plan that has chosen to participate in this program. In Diane Omdahl’s column for Forbes, she explains the program and how it works. Read Ms. Omdahl’s column here…
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