Learn How To Save on Medicare Part B premiums

Is there a program allowing seniors with Medicare Part B to have their payments refunded by enrolling in a free Medicare Advantage Plan? 

Yes, is the answer.

Medicare Advantage programs reduce all or a portion of the Part B premium. 

These programs have a variety of names, including Part B Buyback, Reimbursement, Giveback, and Premium Reduction. 

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The plans require the insured to be enrolled in Medicare Parts A and B. In some instances, Medicare Advantage (MA) Plans include Medicare Part A and B, and usually Part D, Medicare drug coverage. The rules for this plan change often, like whether you have to have a referral for specialty doctors or need to go to a specific facility for non-emergency care. Medicare Advantage Plan can also charge different out-of-pocket expenses, yet there is a yearly limit on those out-of-pocket costs for all Part A and B services. 

What you pay in a MA Plan depends on many factors. 

For instance, you’ll need to use a provider that participates in the plan’s network, like Aetna, Humana, and Wellcare, the participating insurers in New Jersey. 

The premium reduction amount is determined by where the insured resides and is applied to the amount paid through Social Security. The insurance carrier doesn’t send a check immediately to the insured. 

You should contact a provider directly to see if this plan is available in your area for further information. 

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