At the bottom of this letter in fine print it says “This Information Is Not Affiliated With or Endorsed By The Federal Government Or The Federal Medicare Program. You May Be Contacted By A Licensed Medicare Agent.” Some people might miss this notice at the bottom.
So by filling out the form you’ll receive a call back from someone who could be an agent located anywhere in the U.S., and they are supposed to be licensed agents. These letters are a solicitation!
These letters or mailings are put out by marketing organizations who then sell your information to agents buying lists of Medicare eligible people or people in other demographics (example: under the age of 65 but qualify for Medicare due to a disability).
Another way for a marketing organization to get your information is with television commercials. The commercial is trying to get you to call the 800# on the television. During COVID the Medicare marketing commercials were constant and annoying. Especially the commercials with the actors trying to attract your attention and making you think that you are missing some benefit from Medicare. The message on the television would be: “call to find out more.” Once you have called the 800#, you have basically given permission to be contacted by someone. Then that organization tells you that "someone will call you back", during your call. Once you hang up, that is when your information is sold and “someone” calls you back.
It is up to you if you prefer to work with a “someone.”
Referrals are usually the best way.
NOW, WHAT ABOUT PART B "Premium REDUCTION" PROGRAM – also called "Give Back" Program
The Part B premium for 2022 is $170.10. This amount is paid to Social Security.
This Reduction program started in 2021/2022. The different Medicare insurance companies (carriers) started offering Medicare Advantage plans that gave you money back towards your Part B premium, therefore lowering the $170.10 per month that is taken out of your Social Security check.
Some companies would offer anywhere from $30, $35, or $40 off of your Part B premium of $170.10.
Ok, so you are probably thinking “What is the catch?” … so I am asked.
These Part B Reduction or Give Back programs will then raise the copays on your medical benefits, usually by $5 or $10 or $20 compared to the plans that do not offer this reduction.
So here is the how you should consider if these are the right plans for you. If you want or need to save or lower your monthly costs, one way to do this with the Medicare Advantage plans is to consider these Part B Reduction or Give Back programs. But, but, if the higher medical copays are going to be to costly for you then these are not a good option.
I tell my clients that if you are fairly healthy and you only see a doctor once, twice, or three times a year then this plan might work great for you.
But, if you have a family history, have a chronic illness, are going through physical therapy, have a surgery coming up, ect, then these Part B Reduction or Give Back programs might not be your best choice due to the higher copays. Something to consider.
Hope that helps.
Don’t forget the Annual Enrollment Period is coming up fast: October 15th to December 7th - - CALL with questions about the 2023 plans
or if you want to change your Medicare plan.