Can’t Afford to Pay My Medicare Premium Bill…
What Can I Do?
Toni:
My Medicare begins June 1st and I have received my first bill which is $487.20. This bill is for 4 months from June 1st to September 30th. I thought Medicare was monthly. If I pay this amount, then I cannot pay my rent for June.
This bill for Medicare is due June 25th and I was wondering how one pays their Medicare premium on a monthly basis. I can’t start my Social Security check because I work and make more than what Social Security wants without having to pay back as a penalty because I am not at my full retirement age (FRA). Look forward to what you have to say. Jackie from Rosenberg, TX
Jackie:
Most that are paying their Medicare premiums monthly have the premium taken from their Social Security check. Social Security will automatically take the Medicare premiums from a person’s Social Security check. Social Security will send a letter informing the Medicare beneficiary that Social Security is deducting the monthly Medicare Part B premiums from ones Social Security check.
Many are not receiving a Social Security check because they are still working full time and make more than $41,880 annual income for 2016. When one does make more than $41,880 they will have to pay $1 for every 3 dollars over the $41,880.
The average Part B premium for those who income is $85,000 or less as an individual or $170,000 or less as a couple is $121.80, and yours, Jackie, if you divide your premiums of $487.20 by 4 months equals $121.80 per month.
Medicare has a program that can allow one to pay premiums on a monthly basis by either paying via check, bank draft, debit card or credit cards. The program is called “Medicare Easy Pay”.
One can GOOGLE Medicare easy pay and view various places on the www.medicare.gov website which discuss different topics about Medicare Easy Pay such as how to pay Medicare Parts A,B,C and/or D, how to set up Medicare Easy Pay or form to download to pay monthly .
For those who do not have access to a computer, call 1/800-MEDICARE (633-4227) and request for the Medicare Easy Pay form to be sent by mail to you.
If one does not keep up with your Medicare premiums, whether it is Part A, B, C and/or D, then they can lose their benefits and may be charged a penalty when they re-enroll.(When one does not have 40 working quarters to qualify for Medicare, then they may have to pay a premium for Part A.)
It may take about 6-8 weeks to have the Medicare Easy Pay form processed and you should make sure that you keep up with your monthly premiums being paid so that your Medicare Parts A, B, C and/or D are kept on a current basis.
Toni King, author of the new Medicare Survival Guide®, which is a simple guide that puts Medicare in “people” terms, is on sale at www.tonisays.com Email questions or to schedule a “Confused about Medicare and Social Workshop” for your organization or company lunch and learn to toni@tonisays.com or call 832/519-TONI (8664).
