Medicare Advantage Give Back Program Plans

[GailL1]

I will have to say that I thought this type of program was pretty scammy at 1st (hated the commercials) but I have changed my mind with some post on another board asking about this type of MA plans.  I think this type of program does fit some beneficiaries if the program is available in their area.

Let’s say a beneficiary has low income - their SS Benefit is low - BUT they live frugally and they have assets, money assets  -

They may fit the Medicare Savings Program in income but Don‘T fit in the Asset limits. They can’t afford the monthly cost of a Medigap plan so their alternative is s MAPD plan.  

Then their concern turns to the Part B premiums which will reduce their income - their Social Security income - For a low SS benefit, the Part B premiums does take a bit out of the benefit.

Otherwise they would have to hide or give away their assets so as to qualify for a MSP (Medicare Savings Program)  that’s never a good idea seeing we don’t know the future. OR they can, if available, sign up for one of these MA Give Back plans and make it longer without giving away any of their assets.

Then it comes down to picking the best plan for themselves.

This may not work for years and years or it may - who knows - but it may for a while.

Thoughts?