What is a Part B Premium Giveback?
A Part B Giveback is premium reduction benefit offered on some of our Medicare Advantage plans. This means part of your monthly Part B premium will be reduced. Since most Medicare Beneficiaries pay their Medicare premiums directly from their Social Security benefits, this means you get more money back in your social security check each month.
Who is eligible for the Part B Premium Giveback?
You must live in a service area that offers a Part B Premium Giveback plan. Health First Health Plans offers a Part B Premium Giveback plan in the following counties:
- Indian River (Emerald Plus H1099-026)
- Lake (Emerald Plus H1099-024)
- Seminole (Emerald Plus H1099-024)
- Orange (Emerald Plus H1099-024)
You must be enrolled in Medicare Parts A and B and pay your own premiums. You will not qualify for a Part B Premium Giveback if a state or local program is covering your Part B premium.
Will I receive the entire Part B Giveback amount?
This depends on the amount of your Part B Premium. For example:
If you are on the Emerald Plus H1099-026 in Indian River County, you are eligible for up to $148 back. If your Part B Premium is more than $148, you will only receive $148 back. If your premium is less than $148, then you will only receive the amount of your premium.
What else should I know about Part B Premium Giveback?
You do not have to do anything to activate your giveback after enrollment into a Part B Premium Giveback plan. Please note that it can take up to 90 days to begin seeing your rebate in your Social Security check. If the Social Security Administration does not include your giveback in the first few months of being enrolled in a Part B Premium Giveback plan, you will get a lump sum in your social security check from the previous months you were entitled to the giveback.