Make life easier: set up automatic premium payments
Most Medicare Prescription Drug Plans charge a monthly fee that varies by plan. This fee is called a premium. You pay this in addition to the Medicare Part B premium. Did you know that you can have this premium automatically deducted from your monthly Social Security payment? Get peace of mind knowing that bills are paid on time each month.
All you need to do is contact your Medicare Part D drug plan (not Social Security). Your first deduction will usually take 3 months to start, and 3 months of premiums will likely be deducted at once so make sure you have enough in your Social Security payment to cover this. After that, only one premium will be deducted each month. You may also see a delay in premiums being withheld if you switch plans. If you want to stop premium deductions and get billed directly, just let your Medicare drug plan know.
Take the worry and guesswork out of when to pay your premium bills, and contact your drug plan today. Rest assured knowing that your payments will be deducted as scheduled—on time, every time.
Filed under: Open enrollment, Uncategorized