Some Medicare Advantage Plans Can Give You Back Money
Every dollar counts when you’re retired and on Medicare. That’s why it’s so important to choose the right Medicare plan for your needs. A Medicare Advantage plan with Premium Reduction can help you save money on your monthly Medicare Part B premiums.
Though it’s not part of any government Medicare program, you receive this money back in your Social Security check if you meet the following rules:
- You are enrolled in Original Medicare (parts A and B), and you pay your own premiums.
- You live in the state of Michigan within a zip code covered by HAP Medicare Advantage Plans, and you are enrolled in a HAP Medicare Advantage Plan with Premium Reduction.
It’s important to research and select your Medicare Advantage plan carefully each year to ensure you get the coverage and benefits you’ll need until the next annual enrollment period. Give back amounts can range from $0.10 to the total standard premium for the year.
Medicare Advantage plans with Premium Reductions will provide some money back in your monthly Social Security check, sometimes when you need it most. But it’s important to note that it can take Social Security one to three months to process your Medicare Part B premium return. After that, you can expect to see an increase in your monthly Social Security check.
Health Alliance Plan (HAP) has HMO, HMO-POS, PPO plans with Medicare contracts. HAP Medicare Complete Duals (HMO D-SNP) is a Medicare health plan with a Medicare contract and a contract with the Michigan Medicaid Program. Enrollment depends on contract renewals.