Another Simple Medicare Billing Question

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Topic Author
muddlehead
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Another Simple Medicare Billing Question

Post by muddlehead »

Turned 65 in August 2020. Paid $433.80 for 3 months for Part A / and/or Part B - Aug Sep Oct. Have a bill in hand for the next 3 month interval - Nov Dec Jan 2021. I will begin taking Social Security in Jan 2021. It is my understanding the $144.60 per month for above bill will automatically be taken from that monthly check. Here's the question. I will pay the $433.80. Will I be reimbursed for the duplicate Jan 2021 payment by me of $144.60?
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FrugalInvestor
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Re: Another Simple Medicare Billing Question

Post by FrugalInvestor »

I pay my premiums one month at a time through a debit to my checking account. Why are you paying three months?
Have a plan, stay the course and simplify, but most importantly....Ignore the Noise!
Topic Author
muddlehead
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Re: Another Simple Medicare Billing Question

Post by muddlehead »

Interesting. Both bills I received were for the aforementioned 3 months.
sport
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Re: Another Simple Medicare Billing Question

Post by sport »

FrugalInvestor wrote: Sat Oct 10, 2020 12:32 pm I pay my premiums one month at a time through a debit to my checking account. Why are you paying three months?
DW is billed for her medicare premiums annually.
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FrugalInvestor
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Re: Another Simple Medicare Billing Question

Post by FrugalInvestor »

deleted
Last edited by FrugalInvestor on Sun Oct 11, 2020 5:13 pm, edited 1 time in total.
Have a plan, stay the course and simplify, but most importantly....Ignore the Noise!
bob60014
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Re: Another Simple Medicare Billing Question

Post by bob60014 »

There is no duplication for the January payment as they are aware of the 3 month payments prior to your beginning S.S.. Your Medicare deduction from Social Security will automatically begin in February at the regular monthly rate. Just went through this With DW, it was seemless.
Topic Author
muddlehead
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Re: Another Simple Medicare Billing Question

Post by muddlehead »

@bob60014
Perfect thx.
Chip
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Re: Another Simple Medicare Billing Question

Post by Chip »

muddlehead wrote: Sat Oct 10, 2020 12:14 pm Turned 65 in August 2020. Paid $433.80 for 3 months for Part A / and/or Part B - Aug Sep Oct. Have a bill in hand for the next 3 month interval - Nov Dec Jan 2021. I will begin taking Social Security in Jan 2021. It is my understanding the $144.60 per month for above bill will automatically be taken from that monthly check. Here's the question. I will pay the $433.80. Will I be reimbursed for the duplicate Jan 2021 payment by me of $144.60?
Yes, you will be reimbursed if a duplicate payment happens.

My wife's experience in 2017:

Timeline

4/25: 3 month (May-July) Medicare Part B premium due; paid by check
5/15: First SS benefit deposit; May Medicare Part B premium deducted from payment
6/08: Refund of 3 month premium paid in April received by mail.
diy60
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Re: Another Simple Medicare Billing Question

Post by diy60 »

My spouse received a refund approximately 2 months after starting SS benefits, via a check delivered USPS from the US Treasury noted as "SOC SEC FOR INS".
Bcdkgf
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Re: Another Simple Medicare Billing Question

Post by Bcdkgf »

Very informative. Is there anyway we can pay our Medicare Premiums by credit card instead of it being taken out of our social security checks? We like our CC cash back features.
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HueyLD
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Re: Another Simple Medicare Billing Question

Post by HueyLD »

Bcdkgf wrote: Sun Oct 11, 2020 1:09 pm Very informative. Is there anyway we can pay our Medicare Premiums by credit card instead of it being taken out of our social security checks? We like our CC cash back features.
You don’t have a choice.

“ Sec. 1840. [42 U.S.C. 1395s] (a)(1) In the case of an individual who is entitled to monthly benefits under section 202 or 223, his monthly premiums under this part shall (except as provided in subsections (b)(1) and (c)) be collected by deducting the amount thereof from the amount of such monthly benefits.”

https://www.ssa.gov/OP_Home/ssact/title18/1840.htm
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Artful Dodger
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Re: Another Simple Medicare Billing Question

Post by Artful Dodger »

HueyLD wrote: Sun Oct 11, 2020 4:22 pm
Bcdkgf wrote: Sun Oct 11, 2020 1:09 pm Very informative. Is there anyway we can pay our Medicare Premiums by credit card instead of it being taken out of our social security checks? We like our CC cash back features.
You don’t have a choice.

“ Sec. 1840. [42 U.S.C. 1395s] (a)(1) In the case of an individual who is entitled to monthly benefits under section 202 or 223, his monthly premiums under this part shall (except as provided in subsections (b)(1) and (c)) be collected by deducting the amount thereof from the amount of such monthly benefits.”

https://www.ssa.gov/OP_Home/ssact/title18/1840.htm
Just to clarify for those who haven't started Social Security, you can pay the quarterly Medicare B premiums with a credit card.
sport
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Re: Another Simple Medicare Billing Question

Post by sport »

Artful Dodger wrote: Sun Oct 11, 2020 5:11 pm
HueyLD wrote: Sun Oct 11, 2020 4:22 pm
Bcdkgf wrote: Sun Oct 11, 2020 1:09 pm Very informative. Is there anyway we can pay our Medicare Premiums by credit card instead of it being taken out of our social security checks? We like our CC cash back features.
You don’t have a choice.

“ Sec. 1840. [42 U.S.C. 1395s] (a)(1) In the case of an individual who is entitled to monthly benefits under section 202 or 223, his monthly premiums under this part shall (except as provided in subsections (b)(1) and (c)) be collected by deducting the amount thereof from the amount of such monthly benefits.”

https://www.ssa.gov/OP_Home/ssact/title18/1840.htm
Just to clarify for those who haven't started Social Security, you can pay the quarterly Medicare B premiums with a credit card.
Do they charge a "convenience fee"?
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HueyLD
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Re: Another Simple Medicare Billing Question

Post by HueyLD »

No fees.
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HueyLD
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Re: Another Simple Medicare Billing Question

Post by HueyLD »

How often you receive Medicare premium bills depends on your situation.

“ How often will I get a Medicare bill?

If you buy only Part B, you'll get a "Medicare Premium Bill" (Form CMS-500) every 3 months.

If you buy Part A or if you owe Part D IRMAA, you'll get a “Medicare Premium Bill” every month.”

https://www.medicare.gov/your-medicare- ... b-premiums

In addition, if you are on Easy Pay, you will get monthly bills.
Bcdkgf
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Re: Another Simple Medicare Billing Question

Post by Bcdkgf »

HueyLD wrote: Sun Oct 11, 2020 4:22 pm
Bcdkgf wrote: Sun Oct 11, 2020 1:09 pm Very informative. Is there anyway we can pay our Medicare Premiums by credit card instead of it being taken out of our social security checks? We like our CC cash back features.
You don’t have a choice.

“ Sec. 1840. [42 U.S.C. 1395s] (a)(1) In the case of an individual who is entitled to monthly benefits under section 202 or 223, his monthly premiums under this part shall (except as provided in subsections (b)(1) and (c)) be collected by deducting the amount thereof from the amount of such monthly benefits.”

https://www.ssa.gov/OP_Home/ssact/title18/1840.htm
Thanks, I looked all over the internet for that answer. My hubby's next 3 month payment is in Dec for Jan,Feb and March. He will go on SS starting Feb, so the medicare payment will start to be deducted in the Feb SS payment and they will send us a refund check for the Feb and March prepayment. This is how I am understanding it.

I assume we can pay the Medicare Part D by CC directly to the provider. We want to pay for the entire year of Part D in one payment since we will be going with SilverScript at $7.30/month in 2021.
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HueyLD
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Re: Another Simple Medicare Billing Question

Post by HueyLD »

Bcdkgf wrote: Mon Oct 12, 2020 3:00 pm I assume we can pay the Medicare Part D by CC directly to the provider. We want to pay for the entire year of Part D in one payment since we will be going with SilverScript at $7.30/month in 2021.
Yes your assumption is correct except for IRMAA, if any.

“ Contact your plan (not Social Security or the Railroad Retirement Board (RRB)) if you want your premium deducted from your monthly Social Security or RRB payment. If you want to stop premium deductions and get billed directly, contact your plan.”

https://www.medicare.gov/drug-coverage- ... drug-plans
Lalamimi
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Re: Another Simple Medicare Billing Question

Post by Lalamimi »

If you pay the 3 months, you will eventually get a refund. Same thing here, paid in advance and started SS in Dec. Then in the middle of it. IRMMA said we owed additional because our form showing were did not had crossed in the systems. I got a month refund but still wonder if they owed me more.
Of course January will see an increase....

Reason they pay every 3 months is because they did not sign up to have it auto debited.

Yes, you can pay Part D a year of premiums. We did. Congrats on getting Silver Script that low! Ours was $24, we switched to WellCare for $13, but now its going up to $17 each. Oh well.
Bcdkgf
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Re: Another Simple Medicare Billing Question

Post by Bcdkgf »

Lalamimi wrote: Mon Oct 12, 2020 4:22 pm If you pay the 3 months, you will eventually get a refund. Same thing here, paid in advance and started SS in Dec. Then in the middle of it. IRMMA said we owed additional because our form showing were did not had crossed in the systems. I got a month refund but still wonder if they owed me more.
Of course January will see an increase....

Reason they pay every 3 months is because they did not sign up to have it auto debited.

Yes, you can pay Part D a year of premiums. We did. Congrats on getting Silver Script that low! Ours was $24, we switched to WellCare for $13, but now its going up to $17 each. Oh well.
Silver Script is next year, 2021. We are using Wellcare right now. We used my medicare.gov to preview 2021 Drug choices. Silverscript will have all our maintenance drugs at $0 copay. Wellcare is way down on the 2021 choice list.
Lalamimi
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Re: Another Simple Medicare Billing Question

Post by Lalamimi »

Silver Script is next year, 2021. We are using Wellcare right now. We used my medicare.gov to preview 2021 Drug choices. Silverscript will have all our maintenance drugs at $0 copay. Wellcare is way down on the 2021 choice list.
[/quote]

We just signed up 2 yrs ago, so learning the ropes. Broker signed us for Silver Script, then I used medicare.gov and found Wellcare. Its been fine, but going up to $17. Our few meds are free, but a few I had early in the year were about $15. Will check again to see if we should switch. Thanks!
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celia
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Re: Another Simple Medicare Billing Question

Post by celia »

muddlehead wrote: Sat Oct 10, 2020 12:14 pm Turned 65 in August 2020.... I will begin taking Social Security in Jan 2021.
Is there any chance you will want to do Roth conversions in early retirement? If so, it is better to wait on starting SS. Every dollar converted will be taxed, as well as an additional SS dollar, until you are up to 85% of your SS being taxed.
A dollar in Roth is worth more than a dollar in a taxable account. A dollar in taxable is worth more than a dollar in a tax-deferred account.
chemocean
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Re: Another Simple Medicare Billing Question

Post by chemocean »

FrugalInvestor wrote: Sat Oct 10, 2020 12:32 pm I pay my premiums one month at a time through a debit to my checking account. Why are you paying three months?
You can now charge your Medicare premium to a credit card online and get the airline and rewards points at no extra cost.
Topic Author
muddlehead
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Re: Another Simple Medicare Billing Question

Post by muddlehead »

@celia

Good thought, But, nope for me. All $ in taxable IRA. [Political comment removed by admin LadyGeek]
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