• Eric Johnson

On a fixed income? Get a Medicare Premium Reduction

Everyone is always looking for ways to save money, especially when you're on a fixed income. Many retired individuals I'm sure can relate to this. If you're retired you are also most likely enrolled in Medicare.


Most individuals 65 and older are aware they are enrolled in Part A(Hospital) and Part B(Physicians) of Medicare. What you might not know is in 2019, Medicare deducts $135.50 each month from your social security in order to pay for Part B.


Believe it or not you can get back some, if not all of that money back!


Some Medicare Part C(Medicare advantage) Plans offer a benefit called a Part B Premium reduction or Part B Buy down. That means that if you enroll in their plan they will reimburse you X amount of Dollars each month for your part B premium.


Considering most advantage plans have a $0 premium it's hard to believe that the insurance company will actually pay you each month for signing up with them but it's true!


If you are a member of the VA you can sign up for one of these plans and still go to the VA and reap the rewards of the a reduction on your medicare premium!


Check with your local Medicare Insurance Specialist to see what plans you may qualify for.


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