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How do you pay for Medicare?
Old 03-04-2020, 03:52 PM   #1
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How do you pay for Medicare?

Afternoon. Question geared to the older folks on here.

We have been having trouble with Bank of America online pay for Medicare premiums.

We have learned that, for whatever reason, BoA does not do an electronic transaction anymore with CMS but rather goes to a third party to snail mail a check. So right now, CMS may not received a payment that we made online on 13 Feb. BoA has indicated that it can take up to 2 weeks after going on line to Billpay for the check to be received.

It gets even more interesting. When I contacted CMS they said it could take up to 30 days after receiving the payment to even acknowledge that it was received.

So I think then I have to pay online approx 44 days ahead of the due date.

Looking for different means. Alternate bank from BoA, perhaps Wells Fargo?use online premium pay from medicare? sign up for automatic payments (that takes 6-8 weeks).

Meanwhile we are not sure if we have paid premium and will not know for a couple of more weeks. Just doesn't seem efficient.

Thanks
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Old 03-04-2020, 04:16 PM   #2
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Getting DH on Medicare was one of the greatest reliefs of my life. We've had very few issues with claims or coverage. I'm 98% happy.

I can't say the same for paying for it. That was a PITA. They're not very communicative, so we didn't know what was going on. I signed up for the online premium pay through Medicare and it worked, but I was left wondering if they got the request, when it would begin, etc. Nothing...

I will say it got much easier when he began receiving Social Security. It automatically switched over to being deducted from his SS check, but they never really inform you of that either, other than the letter that says your SS checks will start in XXXX and we'll withhold taxes as you requested, and your Medicare Part B payment. If you were a little slow on the draw, it would have been easy to miss.

I'd send them a payment with your request for the online premium pay. They are actually pretty good about not deducting more than they should. It took a while for the auto pay to begin which is why I sent a payment, just in case.

Good luck, and welcome to Medicare!
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Old 03-04-2020, 04:40 PM   #3
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When DH first signed up, he was able to pay his Medicare premiums 3 months at a time with his credit card.

That worked well.

Now it’s deducted from his SS payment each month.
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Old 03-04-2020, 05:04 PM   #4
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.......I'd send them a payment with your request for the online premium pay. They are actually pretty good about not deducting more than they should. It took a while for the auto pay to begin which is why I sent a payment, just in case.
I think that is good advice for someone who joined Medicare, and did not set up the Easy Pay EFT in the beginning.

To OP - I signed up for Easy Pay not long after starting Medicare, my Easy Pay EFT form was processed and ready to go in about 2 weeks, IIRC. I think I could check the "payment" method on myMedicare.gov account. At least that's what I think I remember. I think I checked often, in case it wasn't ready in time for the next month's due date, in which case I would have used a credit card payment to save the day.
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Old 03-04-2020, 05:07 PM   #5
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Prior to receiving SS, we paid Medicare 3 mos. at a time via check. We refuse to let anyone draw from our bank accounts. It worked well and now that we're both receiving SS, Medicare is paid from SS premium.
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Old 03-04-2020, 05:09 PM   #6
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I went "old school" when Medicare started in part because I was only going to pay directly for about a year. So I just waited for them to send me a bill in the mail and when that arrived I wrote a check to pay it. No problems with that. When I started SS later they deducted the Medicare payment automatically - I didn't have to do at thing.

All in all about as simple as it could get. YMMV, of course.
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Old 03-04-2020, 06:14 PM   #7
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We had the same issue with BoA bank drafts to pay for original Medicare. Our first monthly payment wasn’t received by CMS until a month after the date we scheduled, about three weeks “late.” I panicked but when I called CMS to apologize and clear it up, they weren’t concerned, told me I’d have to be a lot later than that to have an issue. But I switched to paying quarterly and scheduled BoA to pay 4 weeks before the payment is due, haven’t had an issue since. So that’s what we’ll do until we go on Soc Sec.
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Old 03-04-2020, 07:44 PM   #8
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I just started Medicare Mar 1st. Did all the sign up and got a bill in middle February. I did an online banking payment for the first 3 months, I don't know if all payments will be for 3 months of if it's a monthly payment. I would prefer every 3 months.

Next is my Plan G payment, I think that is a debit from my checking, But I haven't seen it yet. Need to follow up on that.

My Plan D, also a debit, and I haven't seen that, so I called today and ask, they said billing date is the 4th of every month, so it should happen today.


I hope it's all lined up, been some home office work getting all that setup.
I hope it over.
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Old 03-06-2020, 10:04 AM   #9
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Originally Posted by Time2 View Post
I just started Medicare Mar 1st. Did all the sign up and got a bill in middle February. I did an online banking payment for the first 3 months, I don't know if all payments will be for 3 months of if it's a monthly payment. I would prefer every 3 months.

Next is my Plan G payment, I think that is a debit from my checking, But I haven't seen it yet. Need to follow up on that.

My Plan D, also a debit, and I haven't seen that, so I called today and ask, they said billing date is the 4th of every month, so it should happen today.


I hope it's all lined up, been some home office work getting all that setup.
I hope it over.

I did follow up on my Plan G premium, It is debited from my checking account on the 5th of each month.
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Old 03-06-2020, 11:52 AM   #10
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I think if you are subject to IRMAA and not drawing SS you get billed monthly for both the Medicare Part B and the Part D additional charges. Otherwise (not subject to IRMAA) you get billed quarterly before drawing SS.

You can pay via credit card or debit card now through your Medicare.gov account. We are going to pay online with our HSA debit card first. And then hopefully set up bill pay from our Fidelity HSA account.

If it looks to be delayed we'll just schedule it early.
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Old 03-06-2020, 02:02 PM   #11
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I think if you are subject to IRMAA and not drawing SS you get billed monthly for both the Medicare Part B and the Part D additional charges. Otherwise (not subject to IRMAA) you get billed quarterly before drawing SS.

... ...
I don't believe that's the case. We've always been subject to IRMAA and were billed quarterly before SS.
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Old 03-06-2020, 02:40 PM   #12
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When I started Medicare, I think I sent a check each month, but eventually decided to allow Medicare to automatically deduct the premium from my checking account at my Credit Union. This worked fine for several years and the one time there was an error, I called Medicare and the issue was resolved right away. Just recently, I applied for Social Security benefits and I was told Medicare will deduct the premium payment from my Social Security check each month. I don't recall being offered a choice. I am expecting my first Social Security payment this month, so I do not know how things will go with the automatic withdrawal from my Social Security check. I am expecting there will be no issues, though I do have the monthly premium set aside in my checking account just in case something goes wrong.
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Old 03-06-2020, 02:54 PM   #13
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eventually decided to allow Medicare to automatically deduct the premium from my checking account at my Credit Union. This worked fine for several years and the one time there was an error, I called Medicare and the issue was resolved right away.
Actually, you're the first person I've heard of who ever had a problem with their automatic deductions system. It's very well done.

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Just recently, I applied for Social Security benefits and I was told Medicare will deduct the premium payment from my Social Security check each month. I don't recall being offered a choice.
No, there is no choice. But you do have the option of how much income tax they will withhold. They let you choose 7, 10, 12, or 22 percent of your monthly benefit. No other options, and no flat dollar amounts. It's easy to change online, or you can download Form W-4V and give it to your local office.
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