How to pay for Medicare part B

[burned out shift worker]

I need a little help I will be on Medicare as of August 1. I plan on paying my part B premium using Easy Pay as I will not be collecting SS till December.

My question is when I get my first ss payment will the part B premium be automatically be deducted or must I do anything??

 

[Koolau]

I need a little help I will be on Medicare as of August 1. I plan on paying my part B premium using Easy Pay as I will not be collecting SS till December.

My question is when I get my first ss payment will the part B premium be automatically be deducted or must I do anything??

It was automatic for us but that's been a few years ago.

 

[audreyh1]

Yes, I believe the Medicare premiums will automatically be deducted. However be aware the first SS payment is paid the following month*, that following month Medicare deduction covers the following month, so you’ll still be paying the premium the first month. I believe EasyPay sorts this out.

*Say you started SS in Dec, you get the Dec SS payment in Jan. That Medicare premium deduction covers Jan, not Dec. So you will still have to pay for the Dec Medicare premium. EasyPay apparently handles this and will automatically reimburse any extra payment.

 

[Dash man]

Things will get settled by Social Security after two or three SS payments. You won’t lose any money. Just keep paying the Medicare bill until you see it come out of SS.

 

[Al18]

For Part B, you will be billed 3 months at a time. Expect the first bill in July.

 

[SevenUp]

For Part B, you will be billed 3 months at a time. Expect the first bill in July.

Applied in March 2024 to start May 1, 2024. Got approved in late April. Got the expected IRMAA tier letter, but no actual bill yet.... Haven't started SS.

 

[Texas Proud]

For Part B, you will be billed 3 months at a time. Expect the first bill in July.

Yes, I just pay mine by CC when I get a bill...

I do not like anybody taking money out of my account.. I like to send it from the account..

 

[audreyh1]

For Part B, you will be billed 3 months at a time. Expect the first bill in July.

If you are subject to IRMAA you get billed monthly after that initial 3 months, and the first IRMAA is paid separately (later) from the base Medicare Part B premium.

 

[Luvtoride]

It will probably take a bit of time to set up easy pay. If you’re going to be collecting SS by the end of the year, I wouldn’t even bother setting up easy pay. As Audrey stated, they will bill you 3 months at a time for regular Part B premiums. This way, you control the payments until they deduct from SS.

As for the IRMAA premiums, those will be billed separately after the regular Part B premiums.

We started Medicare Part B, last August. We are not collecting SS and don’t plan to for awhile. After paying 9 months of very high IRMAA premiums, we finally got our SSA-W4 determination that reduced our IRMAA to zero / lowest tier (not sure why different for my wife and I), back to August. We now have huge credits with SSA for our Medicare regular Part B premiums that will take months to use up.
There is nothing good or easy dealing with SSA for Medicare premiums. Good luck.

 

[audreyh1]

I agree that if it’s just a few months until SS starts paying the premiums it might be easier to just pay directly. You can pay by CC online through your Medicare.gov account. You can also do billpay from your bank. We do billpay from our HSA account.

 

[PERSonalTime]

Applied in March 2024 to start May 1, 2024. Got approved in late April. Got the expected IRMAA tier letter, but no actual bill yet.... Haven't started SS.

So are you actually on Medicare now?

 

[PERSonalTime]

Yes, I just pay mine by CC when I get a bill...

I do not like anybody taking money out of my account.. I like to send it from the account..

Do you pay every 3 months?

 

[SevenUp]

Applied in March 2024 to start May 1, 2024. Got approved in late April. Got the expected IRMAA tier letter, but no actual bill yet.... Haven't started SS.

So are you actually on Medicare now?

Yes - at least, I have a Medicare ID card. Haven't used it yet. Went to my Medicare.gov account where it says (something like) "you have no bills yet - when we do bill you, you will see it here."

 

[Koolau]

Yes - at least, I have a Medicare ID card. Haven't used it yet. Went to my Medicare.gov account where it says (something like) "you have no bills yet - when we do bill you, you will see it here."

Heh, heh, I can't recall a time in recent memory when I didn't have "something" pending at Medicare! I guess I'm a "good customer."

 

[PERSonalTime]

Yes - at least, I have a Medicare ID card. Haven't used it yet. Went to my Medicare.gov account where it says (something like) "you have no bills yet - when we do bill you, you will see it here."

That’s weird. Thought that they were supposed to bill in advance of the coverage starting. Please let us know when you get a bill.

 

[Texas Proud]

Do you pay every 3 months?

Yes

 

[SevenUp]

That’s weird. Thought that they were supposed to bill in advance of the coverage starting. Please let us know when you get a bill.

The Medicare.gov account now says "We sent your June bill on 05/28/2024 in the amount of $873.50. Your June bill covers your Medicare premiums through September 2024" and "Your payment is due on: 6/25/2024."

That covers the $174.70 base premium for the five months of May-September. I suppose they'll bill the IRMAA amounts eventually....

 

[audreyh1]

Yes, there was a bit of a delay on receiving the IRMAA bill. I think for some reason they can’t send it out until you start Medicare.

 

[meleana]

I need a little help I will be on Medicare as of August 1. I plan on paying my part B premium using Easy Pay as I will not be collecting SS till December.

My question is when I get my first ss payment will the part B premium be automatically be deducted or must I do anything??

Yes. They will automatically stop Easy Pay and deduct Part B from your SS Check..

 

[imnontrad]

I started Medicare at 65 but will not start my SS unit 70. I get a quarterly bill for Part B (that's all I needed), I can then pay online using my credit card where I get travel points. and then I can reimburse myself from my HSA account.
When I start SS and it comes out of the check monthly, there will probably be a few months of overlap but I will get that overlap reimbursed.

 

[JoePoe]

I hope you don't mind me tagging onto this thread. I'm about a year away from starting Medicare. Does your income for the last few years effect your Medicare premium?

 

[meleana]

I hope you don't mind me tagging onto this thread. I'm about a year away from starting Medicare. Does your income for the last few years effect your Medicare premium?

 

[meleana]

Each year they look at your prior 2 years tax returns.

 

[SevenUp]

I hope you don't mind me tagging onto this thread. I'm about a year away from starting Medicare. Does your income for the last few years effect your Medicare premium?

Yes, unless you have had a life-changing event.

See Roth Conversion with Social Security and Medicare IRMAA and 2024 2025 2026 Medicare Part B IRMAA Premium MAGI Brackets for how much it may affect you.