How can I lower my Medicare Part B premium if my income drops after retirement?

Answered by 4 licensed agents

All states have a threshold for “state Assistance” that if you are under then it will pay for your Medicare part B as well as some deductibles and some RX costs. If you don’t meet the financial criteria then your only other option to lower the part B cost is with a benefit called a “part B reduction”. Be careful when looking at plans that offer this because a few of them are “MA ONLY” plans which means they don’t include RX coverage. If you will be relying on your plan to get medications, then you want an MAPD with a part B premium reduction.

Answered by Gregg Matheny on March 26, 2025

Agent Licensed in AZ & UT

Answered by Gregg Matheny Medicare Insurance Agent
Depending on your personal situation you may qualify for a State Medicaid Program…and in certain situations have the State pay for the PART “B” premium.

Answered by John L Herman Jr on March 26, 2025

Broker Licensed in MD, DE & PA

Answered by John L Herman Jr Medicare Insurance Agent
You can apply for LIS. Limited Income Subsidy.

Some Medicare advantage plans will help pay for part B if you really need it.

Answered by Tasha Riggs on March 25, 2025

Broker Licensed in CO, AZ, HI & 10 other states

Answered by Tasha Riggs Medicare Insurance Agent
Call Social Security office and let them know. Or just walk in with proof like you income tax papers, or anything else showing a drop in your income.

Answered by Michael Kim on March 25, 2025

Agent Licensed in NV, AR, AZ & 18 other states

Answered by Michael Kim Medicare Insurance Agent

Tags: Medicare Part B

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