(Also known as Part B Premium Reduction)
Welcome to QHPNY Premium Give Back Plan. QHPNY strives to provide its members with the best health care benefits and services possible. Putting extra money back in your pocket is just another exciting way to show you how much we care!
What is the Premium Give Back Plan? Each Medicare Beneficiaries is required to pay for Medicare Part B Medicare out of their monthly Social Security check. Medicare Advantage Prescription plans such as QHPNY may choose to use some of the funding it receives from the Medicare to reduce its members Medicare Part B premium. That’s why QHPNY calls it a Premium Give Back Plan. It is also referred to as a Part B premium reduction and many other names.
Are all QHPNY plans Premium Give Back Plans? No, only plans Advantage Silver NY (Plan 019) and Advantage Health LI (Plan 003-CSNP) are give back plans for benefit year 2017. No other QHPNY plans offer a Premium Give Back in benefit year 2017.
How often do I get a reduction on my Part B premium? For 2017 benefit Plans,
- QHPNY members enrolled in Advantage Silver NY (Plan 019) will notice a monthly decrease by $10 in their Medicare Part B premium and their monthly Social Security payment check will increase by $10.
- QHPNY members enrolled in Advantage Health LI-SNP (Plan 003-CSNP) will notice a monthly decrease by $25 in their Medicare Part B premium and their monthly Social Security payment check will increase by $25.
When is it effective? It normally takes the Social Security Administration as long as 3 months or so to process the Part B reduction in the members Social Security check but it will be effective as of the member’s enrollment date. So please be patient. QHPNY does not process the Part B reduction, but it comes directly from Social Security Administration.