Part B National Average

[Mrs.A.Mann]

For the purpose of calculating Part B, not D, penalties...
Is it of the $121.80 (or whatever their Part B Premium is?
I ask, even though it should be rather simple, but no one can confirm...

 

[WCMason]

For the purpose of calculating Part B, not D, penalties... Is it of $121.80 If not then it'd be from the MedAdv market and it looks like it's gotta be something like .10

It is typically based on standard Part B premium. However, this year $3 of the $121.80 is a "temporary" surcharge and I believe the penalty is based on the amount excluding the surcharge, or $118.80. I seem to remember reading that when numbers for 2016 were announced, but don't remember where. Medicare Advantage members also have to pay the Part B premium unless they get it rebated by the MA carrier or paid for by the state due to their low income. My understanding is the carrier rebate cannot include any penalty they may owe and those who get their premium paid for by the state are not subject to a penalty.

 

[Mrs.A.Mann]

It is typically based on standard Part B premium. However, this year $3 of the $121.80 is a "temporary" surcharge and I believe the penalty is based on the amount excluding the surcharge, or $118.80. I seem to remember reading that when numbers for 2016 were announced, but don't remember where. Medicare Advantage members also have to pay the Part B premium unless they get it rebated by the MA carrier or paid for by the state due to their low income. My understanding is the carrier rebate cannot include any penalty they may owe and those who get their premium paid for by the state are not subject to a penalty.

Thanks for your KICK AstroTurf answer!!!

I'm so glad you brought that up... "rebated by the MA carrier"... Is Humana the only one that offers that? I don't sell those plans because they burn boogers, but I've heard of low-income customers qualifying and wanted to direct those folks to the right agents... I hope Humana isn't the only one ;0)

 

[Chazm]

Thanks for your KICK AstroTurf answer!!! I'm so glad you brought that up... "rebated by the MA carrier"... Is Humana the only one that offers that? I don't sell those plans because they burn boogers, but I've heard of low-income customers qualifying and wanted to direct those folks to the right agents... I hope Humana isn't the only one ;0)

Are you referring to plans that refund a portion of their part B premium? Most states don't have that but a few here in FL still offer it.

First off, they don't burn anyone unless the agent doesn't inform them that this may be a temporary thing and expect the refund to be less every year. Then there's no surprises.
Secondly, Humana in some areas offer the refund but there are a few more companies that do it, especially in south FL.