Ask Larry

Should I Be Due A Refund For The Part B Premium I Paid For July?

Hi, I paid Medicare part b premiums for may June July and then again for August September October. Just filed for SS to begin in July. SS payment was received for July on Aug 1. Part b premium was deducted from July SS payment. It seems I am due for a refund of 445.50 (Aug Sept Oct) plus 148.50 for july. Is that correct? Thanks

Hi. No. The Part B premium withheld from your Social Security payment for July that's paid in August is for your August Part B coverage. Even though Social Security benefit rates are paid behind a month, part B premiums are withheld in the month of coverage. So, you would only be due a refund for any premiums that you paid out of pocket for August-on.

Best, Jerry

Category: 
Posted: 
Aug 3 2021 - 9:27am
MaxiFi software running on a laptop
Get What's Yours!
Discover tens of thousands in extra retirement dollars with Maximize My Social Security software!
  • Find your maximized strategy
  • Unlimited what-ifs
  • Step-by-Step filing instructions
  • Our software's lifetime-benefit increase for an illustrative couple earning $65K each and planning to take retirement benefits at 62.

    Results will differ based on your specific case and filing strategy.

Getting Started is Easy
Web-based software. Works on ALL browsers. No download.