Save Money With Medicare Advantage Giveback Plans
Medicare Advantage Part B Giveback Benefits
During Medicare Open Enrollment, you may receive information from plans that promise to put money back in your Social Security check. These Medicare Advantage giveback plans offer a Medicare Part B premium reduction.
Prominence Medicare is committed to helping you understand the options to make the most of your Medicare coverage. Here’s a simple breakdown of how the giveback benefit works and how it might help you save on monthly costs.*
How Medicare plans work with Part B givebacks
Original Medicare is made up of Parts A and B. Medicare Advantage plans receive funding from the federal government and can offer members everything that Original Medicare covers – and much more.
You’re required to pay a premium for Medicare Part B whether you choose Original Medicare or a Medicare Advantage plan. If you have Social Security benefits, the Part B premium is typically deducted from your Social Security check.
Some Medicare Advantage plans offer a Medicare Part B premium reduction, which means they choose to take a smaller payment and you get to keep more of your Social Security income. You’ll see the savings when you receive a Social Security check.
Giveback amounts can vary. It might be a few dollars or, in rare cases, the full premium. Every little bit helps and this benefit can add up over time.
How to find Medicare Advantage giveback premiums
Prominence Medicare offers Advantage plans with a Part B premium reduction. Check your options using the federal Medicare Plan Finder online tool. Look for “Part B premium reduction” under plan details.
In addition, a licensed broker can help you explore which plans in your area may include a Medicare Part B premium reduction and how much you could save.
Is a Medicare giveback plan right for you?
While a lower premium is always appealing, you should make sure the plan fits all of your healthcare needs. This includes your doctors, prescriptions – plus additional benefits like dental, vision and hearing coverage.
At Prominence Medicare, our goal is to help you find a plan that works best for your health, your wallet and your peace of mind. The Medicare Part B giveback is just one of many ways the right our Medicare Advantage plans can help you get more value from your coverage.
Enroll now
Call 866-747-8855 to join a Prominence Medicare Advantage plan during an enrollment period. The provider network presently offers members access to quality medical services in Florida, Nevada and Texas.
* All benefits not available on all plans
Enroll in a Prominence Health Plan Medicare Advantage plan.
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