2023 Medicare Part B & IRMAA

It is that time of year,when the Office of Labor Relations (OLR) processes annual Medicare premium reimbursements for the prior year. We want to ensureyou have up-to-date information on Medicare Part B and Income-Related Monthly Adjustment Amount (IRMAA) reimbursements. Office of Labor Relations (OLR) is the best place to find information about Part B and IRMAA reimbursement.  

Click here for more information from OLR on  Medicare Part B and IRMAA reimbursements.  

OLR has also prepared a video explaining Part B and IRMAA which can be found  HERE. 

PART B PREMIUM 

The City of New York reimburses retirees and their eligible dependents for Medicare Part B premiums paid annually, excluding any penalties.  To qualify, you must be receiving a City pension check and be enrolled as the contract holder for City health benefits. 

For most retirees, the refund is issued automatically by the Health Benefits Program. If you are currently receiving your pension check through Electronic Fund Transfer (EFT) or direct deposit, your reimbursement will be deposited directly into your bank account.  This will be separate from your pension payment.  If you don’t have EFT or direct deposit, you will receive a check in the mail in June. 

The reimbursement amount is based on the standard Medicare Part B premiums – for 2023 that amount was $164.90 per month.  

The Part B reimbursement application can be found here. 

IRMAA 

The Income-Related Monthly Adjustment Amount (IRMAA) is an additional premium that some Medicare beneficiaries with higher annual earnings may need to pay. The City also reimburses retirees and eligible dependents for IRMAA premiums. IRMAA applications will be available in May for 2023 premiums.  

More information from OLR on IRMAA Can be found HERE.  

If you have any questions about Part B or IRMAA reimbursement you should reach out to the City of New York Office of Labor Relations at(212) 513-0470 or email[email protected].