Medicare – Part B Reimbursement
Attention Medicare Retirees and Spouses: Medicare Part B Premium Reimbursements for 2024
The 2024 Medicare Part B standard monthly premium is $174.70 per month. Please determine which of the following categories you fall into and your next steps:
- Your and/or your spouse’s (collectively, “your”) 2023 Medicare Part B premium reimbursement (Reimbursement) from the EUTF was individually equal to or greater than $164.90 per month or $494.70 per quarter. The EUTF will automatically adjust your 2024 Reimbursement to the 2024 standard amount. You do not have to do anything.
- Your 2023 Reimbursement from the EUTF was individually less than $164.90 per month or $494.70 per quarter. The EUTF will not change your 2024 Reimbursement to the 2024 standard amount. You must submit a copy of your Social Security Administration (SSA) letter indicating your Medicare Part B premium to receive the correct Reimbursement; otherwise, your 2023 Reimbursement will continue into 2024.
- Your 2024 Medicare Part B premium is greater than the 2024 standard amount. You must provide EUTF with a copy of your SSA letter or Centers for Medicare and Medicaid Services (CMS) invoice indicating the higher Medicare Part B premium to receive the correct 2024 Reimbursement. You have up to two (2) years to submit a copy of your SSA letter or CMS invoice to receive proper Reimbursement.
**If the EUTF reimburses you an amount which is more than what you are paying, you will be subject to collection of the overpayment and it may affect future reimbursements.**
Required Documents and Reimbursement
If you and/or your dependent(s) are Medicare eligible (age 65 or older, or qualified disabled) and covered under EUTF retiree medical and/or prescription drug plans, you must submit the following to the EUTF:
- Copy of your and/or your dependent’s Medicare card (indicating enrollment in Medicare Part B)
- Direct Deposit Agreement Form (and voided check if designating a checking account)
- SSA letter or CMS invoice for you and/or your spouse/partner indicating the Medicare Part B premium amount. Medicare retirees that pay a higher income-related monthly adjusted premium must submit a copy of their SSA letter or CMS invoice to the EUTF each year.
Medicare Part B premium reimbursement shall be effective the date the Medicare Part B is effective or the first day of the month that the fund receives appropriate proof of enrollment in Medicare Part B and a valid direct deposit agreement form, whichever is later. Reimbursement will begin upon receipt of proof of payment to SSA or CMS.
Retirees who pay a higher income-related monthly adjusted premium will be reimbursed the higher amount. However, if EUTF does not receive a copy of your SSA letter showing your higher income-related monthly adjusted premium each year, EUTF will automatically reset your Medicare Part B premium reimbursement to the Medicare standard amount every January 1st. The higher income-related monthly amounts are limited to a two-year lookback period. Please note that the EUTF will not reimburse for any late enrollment penalties.
The EUTF does not reimburse Medicare Part D premiums.
Dependent Children and Active EUTF Employees
Medicare Part B premium reimbursement does not apply to:
- Dependent children
- Medicare eligible active EUTF employees and their dependents covered by EUTF or HSTA VB active employee plans
However, the Medicare Part B premium reimbursement does apply to an active employee enrolled in Medicare Part B and covered by an EUTF or HSTA VB retiree plan through his/her spouse or partner.