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By Barry Lenson

There are so many questions to ask when writing a will and estate plan. If you are married and you die, can all your assets be passed on to your spouse without incurring inheritance tax? If you have a life insurance policy, will your beneficiary have to pay taxes on the amount they pay? Can you give assets to your heirs while you are alive to avoid paying inheritance tax? Or would it help build some kind of trust?

We could continue to ask questions like these, but it is unpleasant. If you too find them unpleasant, you are not alone. But while we ask some nasty questions, here’s one more to consider. . .

Do you really think that if you don’t make an estate plan, you will never die?

Of course you don’t think that, and neither do I. When you avoid thinking about estate planning, you just pass the problems on to your heirs. And you don’t want to do that, do you?

So, it’s time to mature and think about the question that is the title of this article. . .

Will the health insurance costs you paid be reimbursed if you die?

It is a good idea to think about this question. If you are a Medicare beneficiary, this should be something you ask for now. If you don’t answer it, there’s a good chance that after you die, the money you overpaid in health insurance premiums will remain in an unclaimed asset fund owned by the government, and your heirs will never get it for a long time. time has passed.

But there are ways to prevent this from happening. In fact, your questions about how premiums will be refunded after your death are answered in detail in Section HI 01001.325 of the Social Security Administration Program Operations Manual. There you will find the information you need in a section called “Refund of Excess Medicare Premiums for Deceased Beneficiaries”. If you’re concerned about who will get back the fees you paid, you’ll want to read this section.

Here is a summary of the main points. . .

  • Overpaid fees will be refunded. Original Medicare and private plan providers such as Medicare Advantage and Medicare Supplemental plans are required to refund the premiums you paid for unused coverage. If you paid for a Medicare Part D plan through November but died on November 15andfor example, a portion of the premium you paid for that month of coverage should be returned to your estate.
  • The costs will be reimbursed through your executor. He or she, as the executor of any estate, must open an estate account in a bank where the reimbursed expenses can be deposited.
  • There is no limit to the amount that will be refunded. If the fees have been paid, they will be refunded in full.
  • The costs will be reimbursed to your estate. Even if a parent, caregiver or someone else has paid a fee on your behalf, that person will not be reimbursed for that fee. They will be issued to your estate instead.
  • The Social Security Administration will ensure that refunds go to the correct person, not to someone who is fraudulently trying to get a refund for the fees you paid. Detailed information can be found in the Social Security Administration Program Operations Manual in the section titled “Procedure for Determining Correct Beneficiary and Processing Medicare Premium Refund When Reimbursement is Due to Beneficiary.” died “.

This should all come as a relief

Why? Because the Social Security Administration is clearly trying diligently to reimburse Medicare expenses that have been paid after a Medicare member dies.

And here’s another reassuring thought. There are times when health insurance costs are overpaid. Maybe you paid twice your monthly premiums by mistake. These errors can happen. But if they do, the Social Security Administration/Medicare will reimburse all those costs to your estate.

It’s once that Uncle Sam works for you. So even if you don’t like thinking about your future death, you still have reason to smile.

Want to know more?

Visit CoverRight.com, they’ll help you find the right Medicare coverage for your personal situation. Contact us today and find the best health insurance plan for you.

CoverRight.com is a Medicare-focused digital health insurance platform. The company’s mission is to make Medicare more transparent and accessible for America’s 60 million Medicare beneficiaries. They aim to simplify a traditionally confusing and complex decision by giving you a simple, pleasant and complete registration experience. Medicare professionals are available to assist you with all areas of the enrollment process.

About Barry Lenson

Barry’s most recent book projects have included The digital health revolution and Connecting healthcare, for which he was screenwriter and editor for author Kevin Pereau. Barry’s own books include Amazon.com’s self-help bestseller Good stress, bad stress. Barry writes blogs for Tortal Training, Ingage Consulting, Specialty Metals Smelters and Refiners and other clients.


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