New Medicare Part B premium rates effective 1 January 2024
Dear Friends, AFICS/NY members,
This message is primarily for retirees who are US citizens or residents and are eligible and enrolled in Medicare Part B.
As you are aware, immediately upon attaining 65 years of age, enrollment in Medicare Part B is mandatory for all eligible retirees and their dependents who participate in the United Nations’ US-based After Service Health Insurance (ASHI) plans. (For requirements see “Understanding Medicare Part B for US-based plan participants at: www.un.org/insurance/content/retirees.) Both the standard Medicare Part B premium and the “income-related monthly adjustment amount” (IRMAA), if applicable, are reimbursed by the UN on a monthly basis.
Periodic revisions to Medicare Part B standard premiums are announced by the Social Security Administration with the most recent change in rates taking effect 1 January 2024. In this respect, the Health and Life Insurance Section (HLIS) at the United Nations provided the information noted below which is reflected on their website. The increase in the standard premium from last year’s rate of $164.90 to the 2024 rate of $174.70 will be reflected in the reimbursement that the UN will deposit in your bank account towards the end of January 2024.
If you are subject to the income-related monthly adjustments, please note that the IRMAA will not be reflected in monthly reimbursements unless and until you submit the annual Medicare Part B premium reimbursement request form and the necessary supporting document to HLIS for processing. Medicare reimbursements are automatically adjusted to the standard amount each January unless the annual reimbursement request form and Medicare letter indicating the IRMAA amount is received and processed by HLIS before the UN’s payroll system cut-off date for January reimbursements (around mid-January).
Message from the Health and Life Insurance Section (HLIS) at the United Nations posted on their website
“The Health and Life Insurance Section (HLIS) wishes to inform all Medicare B participants that effective 1 January 2024 the monthly Medicare Part B Standard Premium is $174.70.
If your Medicare Part B Premium is the Standard Rate, please be advised that no action is required by you as HLIS will adjust your reimbursement to the new Standard Rate.
However, if you received notification from the Social Security Administration (SSA) advising that your 2024 Medicare Part B Premium is higher than the Standard Rate because you are subject to an “Income-Related Monthly Adjustment Amount” (IRMAA), you will need to submit a completed Medicare Part B Premium Reimbursement Request form along with the letter received from the SSA to enable HLIS to appropriately update your monthly reimbursement amount for 2024.
Please note that the IRMAA will not be reflected in your monthly reimbursement unless and until you submit the Medicare Part B annual reimbursement request form and the necessary supporting SSA document(s) to HLIS for processing.
The Medicare Part B Premium Reimbursement Request Form and Checklist are available on HLIS website, www.un.org/insurance, and appended below for ease of reference.
Medicare_part_b_annual_reimbursement_request_form.pdf (un.org)PDF
Medicare Part B Reimbursement Checklist-16.pdf (un.org)”
Additional information related to Medicare Part B premiums and reimbursements and responses to frequently asked questions are provided in the attached Annex.
Thank you very much.
Wishing you and your families all the best wishes for a very Happy, Peaceful and most of all a very Healthy New Year.
Kind regards,
Jay Karia, Co-Chair Health Insurance Committee AFICS/NY
Dr. Sudarshan Narula, Co-Chair Health Insurance Committee AFICS/NY
Deborah Landey, President AFICS/NY