The Medicare Give Back Benefit is a rebate offered by certain Medicare Advantage (Part C) plans that covers some or all of your Part B premiums.

Medicare Advantage plans (also known as Part C) are bundled Medicare plans offered by private insurance companies. The plans typically bundle Medicare parts A and B and may include additional benefits such as dental, vision, or hearing services.

The Medicare Give Back Benefit is another service Medicare Advantage plans might offer.

In order to enroll in a Medicare Advantage plan, you need to continue paying your monthly Part B premiums. The Medicare Give Back Benefit provides a rebate that covers some or all of your Part B premiums.

This article provides more information about the Medicare Give Back Benefit, including eligibility requirements, rebate amounts, how you’re reimbursed, and how to compare Medicare Advantage plans and the benefits they offer in your area.

To be eligible for a Medicare Advantage (Part C) plan with a Give Back Benefit, you must:

  • be enrolled in Original Medicare (parts A and B)
  • pay your own Part B premiums
  • live in an area where Medicare Advantage plans offer Part B giveback benefits*

*The Medicare Advantage Give Back Benefit is restricted to certain states and counties and may not be available in your area.

Medicare gives private insurers a certain amount of money for each Medicare Advantage member they enroll. This money is called “the bid.”

Some private insurance companies can cover an enrollee’s insurance cost for less than the bid (the money given to them by Medicare). In these cases, the private insurance companies can keep the difference as a rebate.

Companies use this rebate to fund additional services such as vision or hearing coverage or gym memberships. They can also refund some of the money to enrollees in the form of a Give Back Benefit.

To determine how much of a refund you will receive, you can review your Medicare plan’s Summary of Benefits or Evidence of Coverage. This will list your Medicare give back amount if you qualify.

If you’ve enrolled in a Medicare Advantage plan that offers a Give Back Benefit, you don’t need to do anything to activate this benefit. You’ll receive your monthly rebate in one of two ways:

  • If you pay your Medicare Part B premiums through Social Security, the Give Back rebate will be credited monthly to your Social Security check.
  • If you pay your Medicare Part B premiums directly (not through Social Security), you’ll receive a discount on your monthly Part B premiums and pay a reduced amount.

It’s worth noting that if you recently switched to a new Medicare Advantage plan with a Give Back Benefit, the rebate might take a few months to take effect. However, you’ll be reimbursed for each month you haven’t received your rebate since joining the plan.

If you’re thinking about signing up for a Medicare Advantage plan that offers a Give Back Benefit, make sure you review all the benefits the new plan is offering.

While the extra money you receive each month is a nice benefit, you want to make sure that your plan covers all your needs, such as:

  • Medications: Does the plan you’re considering include prescription drug coverage, and is there a particular drug you’re taking that you’d like to be covered?
  • In-network options: Is your preferred doctor within your plan’s network?
  • Out-of-network doctors, specialists, and pharmacies: Does the plan provide out-of-network services, and if so, how much extra does that cost?
  • Additional benefits: Does the plan offer dental, hearing, vision, or other benefits in addition to the Give Back Benefit?

You want to make sure that the new plan doesn’t come with a high monthly premium or high out-of-pocket costs, as these may nullify your rebate.

To research and compare Medicare Advantage plans in your area, you can enter your zip code into this online Medicare search tool.

You can apply for a Medicare Advantage (Part C) plan during the following enrollment periods:

  • Initial enrollment: This starts 3 months before your 65th birthday month and ends 3 months afterward.
  • Open enrollment: This runs every year from October 15 to December 7. During this period, you can drop Original Medicare and join Medicare Advantage for the first time or switch between Medicare Advantage plans and look for other benefits, such as the Part B Give Back rebate.
  • Medicare Advantage open enrollment: This window runs from January 1 to March 31 every year. During this time, you have the same opportunities as those in open enrollment, so you can switch or join Advantage plans.

Under certain circumstances, you may also be able to make changes to your Medicare Advantage plan during Medicare’s Special Enrollment Periods.

Circumstances that allow you to use Special Enrollment periods include:

  • you’ve moved, and your new home is outside of your Medicare plan’s service area
  • you’ve moved, and there are new Medicare plans available at your new address
  • you’re moving back to the United States after living abroad
  • you’ve moved into or out of a skilled nursing facility, psychiatric facility, rehab hospital, or long-term care facility
  • your employment ends, or your employer-provided insurance plan ends

Some Medicare Advantage Plans (Part C) offer a Give Back Benefit. This benefit reimburses or reduces the cost of your Medicare Part B premiums.

Medicare gives each Medicare Advantage plan a certain amount of money for each enrollee. If the cost of care for that enrollee is less than the amount of money given to the Medicare Advantage plan, the plan can either provide a Give Back Benefit to the enrollee or offer other benefits.

Before enrolling in a Medicare Advantage plan with a Give Back Benefit, make sure you review all the benefits and costs associated with the plan.