At Signature Senior Solutions, we think it’s time to skip the Post Office lines, and start paying your premiums directly online! We’ve done the research, and we have two, safe and secure, ways that you can pay your Medicare premium online.
Paying Part B
Do you already receive Social Security benefits before 65? If so, then you will automatically enrolled into both Part A and Part B. Basically, your Part B will automatically be deducted from your monthly Social Security payment. Therefore, there’s no reason to worry about paying your premiums online.
Nevertheless, if you are not receiving Social Security while enrolled in Medicare, you will be billed quarterly for Part B. If you’re able to pay your quarterly premiums all at one time (roughly $435), then mailing a check may be a good option. However, what if we told you that you could split your quarterly payments into monthly payments?
Medicare Easy Pay
If you receive monthly or quarterly bills for your Part B premium, then you are eligible to sign up for Medicare Easy Pay.
There’s a reason that the word “easy” is in the title. First, you don’t have to worry about letting your coverage lapse. By setting up automatic drafts from your bank account, you can rest assure knowing that you’re monthly payments will be withdrawn on the 20th of each month. This is your typical “set it” and “forget it” system. Secondly, signing up for Medicare Easy Pay is pretty straightforward.
How to Sign Up
First, you need to visit Centers for Medicare & Medicaid Services (CMS) and complete the Authorization Agreement for Preauthorized Payments form. You can either fill this form out online, or you can print and complete it. Either way, you have to print this document and mail it to the address listed on the form.
Signature Senior Solutions always recommends to make copies of any document to keep in your personal records.
Next, mark your calendar eight weeks from the mail-in date. Unfortunately, this is the slowest part of the process. Once Medicare receives your form, it may take six-to-eight weeks to process your Medicare Easy Pay automatic draft.
Obviously, it’s important to keep paying your Medicare Part B premiums until your first automatic payment has been fulfilled. Typically, your first Medicate Easy Pay payment will be installed on your next monthly premium. If, for some reason, Medicare is unable to process your form, they will send it back to you with an explanation letter.
Regardless if you want to pay your monthly premium online or through the mail, Signature Senior Solutions suggests that you create an account with mymedicare.gov. Setting up your account is simple: All you need is your Medicare ID number. What’s so great about this online platform?
Most importantly, this account provides you access to check progress on your Medicare claims. Furthermore, you can review Part B deductible balance anytime you want. Lastly, you can pay your Medicare premiums online. The downside? There is no automatic draft. Therefore, you will have to manually log in and pay your premium by the due date.
At Signature Senior Solutions, we understand that paying your monthly Medicare premiums online can be complicated. Our tech-savvy agents are just a phone call away to guide you through setting up your online payments.
Senior Signature Solutions is located in Cave Creek, servicing all of Maricopa County, the state of Arizona, as well as Multi-State licensed for complete care and guidance with Everything Medicare!