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Part B insurance pymt...direct vs Soc Sec adj ?
Old 06-14-2018, 07:29 PM   #1
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Part B insurance pymt...direct vs Soc Sec adj ?

I have been paying my Part B insurance premium quarterly by check directly to Medicare/Soc Security. I have since elected to start taking Social Security effective this month (June). I will receive my first payment mid-July. They sent me the calculation for my benefit. It is the amount due me, LESS my Part B insurance.

Since my insurance is actually paid thru the end of August, at what point will they adjust for the "overwithheld" Part B deductions for these 3 months?

Guess I could call one of their offices or stop in and ask. Just thought someone here might have experience with this. Thanks.
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Old 06-14-2018, 10:37 PM   #2
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Quote:
Originally Posted by Momcpa View Post
I have been paying my Part B insurance premium quarterly by check directly to Medicare/Soc Security. I have since elected to start taking Social Security effective this month (June). I will receive my first payment mid-July. They sent me the calculation for my benefit. It is the amount due me, LESS my Part B insurance.

Since my insurance is actually paid thru the end of August, at what point will they adjust for the "overwithheld" Part B deductions for these 3 months?

Guess I could call one of their offices or stop in and ask. Just thought someone here might have experience with this. Thanks.
For me, it all got straightened out in the third month of SS payments, which began when I turned 66. I paid Part B by check every month. I paid it as usual the first month because I did not know what to do - - so they then refunded me by sending a refund later on.

I just found the amounts and dates:

First month's deposit on 7/11/2014, the exact Social Security amount minus Medicare, and then less fifty cents for some reason. After seeing this, I didn't send in any more checks for Medicare because I could see that they were taking it out of SS as planned.

Second month's deposit on 8/13/2014, the exact Social Security amount minus Medicare.

Third month I got two deposits. One was the same amount as the second month, and this was deposited on 9/10/2014. The second was on 9/11/2014, and this one was for the exact amount of one month of Medicare (the first month, which I had paid twice since I paid by check).
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Old 06-14-2018, 10:47 PM   #3
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Oh - gosh! Hadn't even thought about that transition! But anyone taking Medicare before SS will have to deal with it.
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Old 06-15-2018, 04:09 AM   #4
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I had a similar experience to W2R....had been paying quarterly...turned 66 and started SS under spousal which accounted for Medicare B....received an extra deposit to reimburse for prepaid Medicare B soon after.


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Old 06-15-2018, 09:42 AM   #5
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IIRC, a few months after I started SS, I got an extra deposit made to my checking account that refunded me the money I had overpaid with my last check for Medicare.
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