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
Required Documents:
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.
Reimbursement:
Retirees hired prior to July 1, 2023 and their spouses or DPs/CUPs who are enrolled in Medicare Part B and are paying Medicare Part B premiums, including income-related monthly adjusted amount (IRMAA), are eligible for Medicare Part B premium reimbursements, excluding penalties.
Retirees hired on or after July 1, 2023 who are enrolled in Medicare Part B and are paying Medicare Part B premiums are eligible for Medicare Part B premium reimbursements, excluding penalties and IRMAA. Spouses or DPs/CUPs are not eligible for reimbursements of their Medicare Part B premium.
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 hired before July 1, 2023 and their spouses or DPs/CUPs 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.
Medicare Part B premium reimbursement does not apply to:
- The spouses or DPs/CUPs of retirees hired on or after July 1, 2023
- 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 if the retiree was hired before July 1, 2023.