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Question: I just found that I got a $90 deposit in my checking account. It says it is from Social Security. What is this and why did I get this?
Answer: We have gotten this question a lot this week! You may have heard that it is your Medicare Part B Premium Rebate by now. This is a one-time payment of $90 that is meant to offset the Medicare Part B Premium that you pay each month.
You may remember that each month there is a Part B premium of $202.90 taken out of your monthly Social Security Benefit. Many people forget they pay that premium each month. This $90 refund comes to you from the Medicare Improvement Fund. These refund payments began arriving in accounts the first week of October and will continue until 20 million Medicare recipients receive their refund. In the coming weeks you may receive an email or a letter in the mail explaining this a little more.
There are more than 67 million individuals who have Medicare across the country. This refund will only be given to about 20.8 million recipients. Only 20.8 million Medicare enrollees will receive them based on certain qualifications they must meet. The Medicare enrollees who are enrolled in Medicare Part A & B, and are using their Original Medicare benefit will receive them, with some exceptions I can clarify.
Those individuals who are eligible for Medicare and Medicaid do not qualify for this $90 refund. Those individuals who pay a higher Medicare premium due to an IRMAA (Income Related Monthly Adjustment Amount) do not qualify for this $90 refund. You need to be in both Part A & B, so individuals who have Medicare Part A only because they carry insurance from an employer through their own employment or their spouse's employer do not qualify for this $90 refund.
The largest group who don't qualify for this refund are those individuals who are enrolled in a Medicare Advantage Plan in 2026. There are more than 40 million Medicare beneficiaries that have enrolled in a Medicare Advantage Plan. Those individuals do not qualify for this $90 Part B refund. This refund was designed to help those who are using their Original Medicare benefit. When you have a Medicare Advantage plan, your Original Medicare is not actually active, you only have your Medicare Advantage plan for your health insurance.
This $90 refund comes from the Medicare Improvement Fund. This a fund that was established in 2009, and its stated purpose is to improve Medicare and the programs associated with Medicare. This is the first time the funds have been used in this way.
I hope this answered your questions about your unexpected deposit. Unexpected extra money is always fun to have! I hope that it makes your life a little easier this month.
Janell Sluga is a Geriatric Care Manager helping seniors in our community access services and insurance. To reach her, please email editorial@post-journal.com.