On October 2, President Trump announced a special rebate for qualifying Medicare beneficiaries.
The one-time, $90 payment will be made from the Medicare Improvement Fund, which is for the purpose of making improvements to the Medicare fee-for-service program.
Since its creation in 2008, this is the first time this fund is being utilized to improve Medicare. Read on for more details!
Who Qualifies for the Medicare Improvement Fund Rebate?
20.8 million Medicare beneficiaries will receive this $90 rebate during October.
Individuals qualify as long as they are:
- Living in the United States
- Not receiving premium assistance from Medicaid
- Not paying an Income-Related Monthly Adjustment Amount
- Not enrolled in Medicare Advantage
20.8 million Medicare beneficiaries will receive this $90 rebate during October.
How Will Medicare Beneficiaries Receive the Rebate?
Qualifying individuals with direct deposit will receive direct payment from the Social Security Administration on or around October 8.
Those without direct deposit will receive a check from the U.S. Department of the Treasury later in October with the following accompanying message “Medicare Improvement Fund Payment; $90 Payment to Offset October Premium.” The check will be mailed to the mailing address they have registered with Medicare.
To check on their eligibility for the rebate, beneficiaries can call 1-800-MEDICARE (1-800-633-4227).
To check on the status of their rebate payment, beneficiaries can call the Social Security Administration at 1-800-772-1213 beginning October 15.
Please be sure to instruct clients that their Medicare number, Social Security number, and banking information does not need to be provided to anyone in order to receive the rebate.
For further info on the Part B Premium Rebate, check out this fact sheet from The White House and FAQ from CMS.
Not affiliated with or endorsed by Medicare or any government agency.
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