If you are close to turning 65, you have hopefully given Medicare some thought. If you are to sign up for Parts A & B, how can you pay premiums?
Most people do not have a monthly premium for Medicare Part A. But if you have Medicare Part B and are receiving Social Security or Railroad Retirement Board (RRB) Benefits, your Part B premium is typically deducted from your monthly benefit.
If, however, you do not receive Social Security or RRB benefits, you will get a bill titled, “Notice of Medicare Premium Payment Due.” Medicare is making it easier to pay your premium and here are three ways to pay:
- Credit Card or Debit Card
You can pay using your credit or debit card by simply completing the bottom portion of your Medicare bill. You must provide the card number, expiration date, and the security code as it appears on your card.
- Check or Money Order
If you do not feel comfortable paying with a credit or debit card, you can always pay by check or money order.
- Medicare Easy Pay
If you do not want to even have to worry about remembering to pay your Medicare premium, you can sign up for Medicare Easy Pay. This is a free service that automatically deducts your premium from your savings or checking account every month.
In order to authorize this payment plan, you must send this form to:
Medicare Premium Collection Center
P.O. Box 979098
St. Louis, MO 63197-9000
Paying for Medicare Part B does not have to be confusing, especially if you take these tips into consideration. Contact SeniorChoices NW to schedule an appointment to review your next steps with getting signed up for Medicare coverage.