Can I use StretchDollar to get reimbursed for Medicare?
Yes! Medicare premiums are eligible for reimbursement through ICHRA, including:
- Part A and Part B together (Original Medicare)
- Part C (Medicare Advantage plans)
- Part D (drug coverage)
- Medigap (Medicare Supplement plans) The employee will simply upload proof of their monthly premium (such as a statement from Social Security or the insurer) and we'll handle the reimbursement as usual.
💬 Frequently Asked Questions
Q: Can I get reimbursed for Medicare Part B by itself?
A: No. Part B alone doesn't count as qualifying coverage for ICHRA. You need Part A and Part B together (this is called Original Medicare). Most people get Part A for free, so pairing it with Part B is easy to do.
Q: Can I get reimbursed for Medicare Part A?
A: Most people don't pay a premium for Part A. If you do (because you didn't pay enough into Medicare via taxes), that premium is reimbursable through ICHRA — as long as you also have Part B.
Q: Are Medicare Advantage (Part C) premiums reimbursable?
A: Yes. Medicare Advantage plans are purchased through private insurers and premiums are reimbursable just like Marketplace plans. Be sure to upload documentation showing your monthly cost.
Q: Can I get reimbursed for a Part D prescription drug plan?
A: Yes. If you purchase a standalone Part D plan, your premium is eligible for reimbursement.
Q: Can I get reimbursed for Medigap (Supplemental) plans?
A: Yes. Medigap premiums are eligible for reimbursement, just like Part A, B, C, and D premiums.
Q: What documentation do I need to submit to get a reimbursement?
A: Acceptable proof includes:
- A Social Security statement showing your monthly Part B deduction
- A premium notice from your Medicare Advantage, Part D, or Medigap insurer
- A bank statement showing payment to the plan provider
Q: Can I get reimbursed for out-of-pocket costs like deductibles or copays?
A: No. Only insurance premiums are eligible for reimbursement. Medical expenses like copays, prescriptions, and deductibles are not covered by StretchDollar.
Q: Can I use ICHRA to pay for my spouse's Medicare premiums?
A: If your spouse is listed as a dependent on your company's plan and eligible for reimbursement under your ICHRA, then yes, their premiums can also be reimbursed. Be sure to upload their documentation separately.