Understanding Medicare Part B
Medicare Part B is the medical insurance portion of Medicare. To maintain coverage, you must enroll and pay Medicare the Part B premium.
When Medicare is the primary payer over NYSHIP coverage (meaning Medicare pays first), your NYSHIP employer will reimburse the standard premium for Medicare Part B. (This excludes any penalties for late enrollment.) Ask your HBA how your employer handles reimbursement.
Eligibility
Your NYSHIP employer will reimburse the Medicare Part B premium when Medicare becomes primary to NYSHIP coverage. Learn more about when you or your dependent will become Medicare-primary on our Medicare page.
Reimbursement
After you retire, your former employer will reimburse the Part B premium at a schedule of their choosing (monthly, quarterly or annually). Ask your HBA how your employer handles reimbursement.
If you and/or your dependent are reimbursed from another source, contact your HBA.
The Medicare Part B premium reimbursement covers the standard premium for Medicare Part B.
However, your Part B premium amount may be higher than the standard premium. If your income is above a set limit from the federal government, your Medicare Part B premium also includes an Income-Related Monthly Adjustment Amount (IRMAA).
NYSHIP will also reimburse you for Part B IRMAA. The process is separate from the Medicare Part B premium reimbursement from NYSHIP. Visit the IRMAA page for more information.
You may also have a Part B late enrollment penalty with your Part B premium. NYSHIP does not reimburse for any Medicare late enrollment penalty.