Cash Back Benefit
Alleviate premium pressure through Cash Back
Access to health insurance supports your commitment to healthy aging, but there are times when the cost of premiums overshadows its benefit.
Studies have shown that higher out-of-pocket spending may lead older adults to postpone care. Timely care is critical to manage chronic illnesses and detect diseases better treated at an earlier stage. What if you could reduce your yearly premium cost by receiving cash back from your plan?
Our Cash Back benefit reduces the amount of your monthly Medicare Part B premium. You may have also heard of this benefit referred to as the Give Back benefit or Medicare Part B Premium Reduction.
You are eligible for Cash Back if you are enrolled in Medicare Parts A and B, pay your own Part B premium, and don’t receive Medicaid or other forms of assistance to pay your Part B premium.
Call to speak with one of our trusted advisors at 1-800-964-4525 (TTY:711) or go online today to enroll and begin enjoying benefits like this. A reduction in premium cost could have you seeing more green.
Making the most of our Cash Back benefit as a member
Call Member Services at 1-800-240-3851 (TTY 711) between 8 a.m. and 8 p.m.
There are no direct payments to beneficiaries. This reduces your Part B premium.
You will not receive checks directly from our plan. Instead, you will receive your Cash Back benefit in one of two ways. If you pay your Part B premium through Social Security, your money will be credited back to you on your monthly Social Security check. If you do not pay your Part B premium through Social Security, you will pay a reduced monthly amount directly to Medicare.
It can take Social Security one to three months to process and activate your Cash Back benefit. You may receive a lump sum amount on your Social Security check to include the months prior to activation for this reason.
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