Dear Shannan: What is the $148 that I see all over TV? Does Medicare give everyone this back?
Dear Charles: Thank you for your question the $148 that you see on the television commercials has been around forever and a day. This is nothing new. A person who has Medicare will qualify for the $148 to be given back is done in two different ways. The first is by being low income and qualifying for the Medicare Savings Program, meaning Medicaid would pay for your Part B premium with Medicare. This is the only way a Medicare eligible is able to receive their full Part B premium back. The second way is through a giveback, which is a benefit through a Medicare advantage plan, however the insurance carriers do NOT give th efull part b premium back only a part of it. I know of three in our area. One carrier gives $48 back and the other $50. You need to understand that if you choose to go this way, you are giving up other benefits that may be more advantageous for you to keep. I expect when annual election period comes around there will be many Medicare eligibles looking for local agents to help them find plans that actually fit them. The ads on TV are call centers looking to enroll people on new plans. I have had clients call that fell for it and are now regretting the choice these people have made for them. They put them on plans their medications are not covered or they are paying higher copays or their doctors are not in network on their new plan. It is always a very good idea to go with a local agent in the state you live in. They will be familiar with the plans in Your specific county. If you would like to be educated please drop by one of my Medicare classes held the last Saturday of every month at 11:30 a.m. Whole Hog Café in Conway. Please email, text or call with your questions. I have gotten a number of questions and answer every single person that contacts me. I want to thank you for allowing me to be your Medicare professional.