What is the Medicare Giveback Benefit?
Medicare Part B typically carries a monthly premium regardless of whether you have a Medicare Advantage plan or Original Medicare. This monthly premium ($164.90 in 2023) may be automatically deducted from your social security check.
The Giveback benefit refers to certain Medicare Advantage plans which reimburse you for some or all of the Part B premium amount.
Only some Medicare Advantage plans in certain locations are eligible for the Giveback benefit. Also, if you receive Medicaid benefits (low-income) or other government assistance for health insurance coverage, you may not be eligible for the Giveback benefit.
Medicare commercials on TV have been criticized for advertising the Giveback benefit although only a small percentage of people are actually eligible for the benefit.
Last updated: October 19, 2022
