16 Mar Why did I get a Medicare Part B reimbursement check?
Q. I received a Medicare Part B reimbursement check from the Division of Pensions and Benefits. Why would I get this? I don’t remember getting it before.
A. Checks like the one you received are not uncommon.
New Jersey pensioners may be entitled to a reimbursement of their Medicare Part B premiums paid depending upon when they were originally hired, when they retired and what department or agency they worked in while employed, said Howard Hook, a certified financial planner and certified public accountant with EKS Associates in Princeton.
For example, he said, if you are a retired teacher and otherwise meet the years of service and hire date eligibility requirements, you would receive an amount equal to the standard Medicare Part B monthly premium in your pension check each month.
“At the end of the year, you can file to receive any excess Medicare Part B premiums you paid due to your income being above a certain threshold,” Hook said. “This has to be applied for.
Hook said you should check your pension pay stub to see if the monthly standard Part B premium is being reimbursed.
“You also likely would have received a check stub for the reimbursement payment you are referring to, which may provide a clue as to what the payment you received was for,” he said.
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This story was originally published on March 16, 2021.
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