Paying Medicare Part B premiums via personal checking account.

PERSonalTime

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This question Is directed toward people who currently paid for their medicare Part B premiums via their personal checking account. I'm just about to enroll in Medicare and was thinking about about making payments via my checking account. I was just a little concerned about using my medicare number for the account. I'm I over thinking this? I know Easy Pay is also an option, but would find the checking option easier. Your thoughts?
 
This question Is directed toward people who currently paid for their medicare Part B premiums via their personal checking account. I'm just about to enroll in Medicare and was thinking about about making payments via my checking account. I was just a little concerned about using my medicare number for the account. I'm I over thinking this? I know Easy Pay is also an option, but would find the checking option easier. Your thoughts?
Personally I have no issue with using the medicare number. But consider using a rewards credit card. You won’t be able to use it after you start collecting social security (as medicare premiums are deducted from benefits payments)
 
+1 and pay it with CC at Medicare website every 3 months for no-fee until you start SSB.
 
We didn’t have any issue with DH’s HSA account having the Medicare account number to pay his premiums. Is that number more sensitive than your social security number which the financial institution already has?

DH used his HSA debit card to make the initial payments via Medicare.gov and then scheduled the regular payments via billpay.
 
We didn’t have any issue with DH’s HSA account having the Medicare account number to pay his premiums. Is that number more sensitive than your social security number which the financial institution already has?

DH used his HSA debit card to make the initial payments via Medicare.gov and then scheduled the regular payments via billpay.
why not use a cc and get 2% back. at he end of the year you can request it all back from your hsa. of course once you start SSB it will be taken out of those.
 
why not use a cc and get 2% back. at he end of the year you can request it all back from your hsa. of course once you start SSB it will be taken out of those.
Because AFAIK there is not a way to schedule payments using a credit card. You can log in to Medicare.gov each month and pay via a credit card. We prefer to schedule payments directly from our HSA account which keeps the record keeping super simple. We schedule a year of payments at a time.

Once SSA starts deducting Medicare premiums we will switch to reimbursement. The 1099-SA will be our documentation for the qualified HSA withdrawals.
 
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Because AFAIK there is not a way to schedule payments using a credit card. You can log in to Medicare.gov each month and pay via a credit card. We prefer to schedule payments directly from our HSA account which keeps the record keeping super simple. We schedule a year of payments at a time.

Once SSA starts deducting Medicare premiums we will switch to reimbursement. The 1099-SA will be our documentation for the qualified HSA withdrawals.
We just pay for multiple months thru the end of the year once we know the premium for the new year. Not limited to 3 months. We use a rewards CC.
 
I see, you just pay for 12 months for example, not monthly or every three months.
 
I do not quite understand. My premiums are automatically deducted from my monthly payment from Medicare.
 
We didn’t have any issue with DH’s HSA account having the Medicare account number to pay his premiums. Is that number more sensitive than your social security number which the financial institution already has?

DH used his HSA debit card to make the initial payments via Medicare.gov and then scheduled the regular payments via billpay.
Yes, I think you have a valid point regarding the SS#. When you say "billpay" do you mean your checking account?
 
Is there anyone out there that is currently making payments through their personal checking account?
 
Is there anyone out there that is currently making payments through their personal checking account?
I do and have been doing do for over a year. I’ve had no issues and don’t really think about it much. I wanted everything on autopilot rather than have a task I needed to do monthly or quarterly or whatever.
 
Is there anyone out there that is currently making payments through their personal checking account?

It's not my personal checking account, but I am writing paper checks out of my small business checking account every 3 months.

I was just a little concerned about using my medicare number for the account. I'm I over thinking this?

Are you concerned with having your Medicare number being connected to your personal checking account? Could you elaborate on why this concerns you?
 
Is there anyone out there that is currently making payments through their personal checking account?
Yes, DW and I have been paying monthly*** since mid 2019 direct from our joint checking account with no issues whatsoever.

***We’d prefer quarterly but that’s not an option for those of us paying IRMAA penalties too - no idea why.
 
Is there anyone out there that is currently making payments through their personal checking account?
Just to be clear there is no practical difference between paying from a personal checking account and from a Health savings Account (HSA). It just happens that we’re able to use pre-tax dollars for a qualified Medical expense which includes paying premiums to Medicare. Otherwise it operates just like bank or brokerage checking including online bill pay from the account.
 
We pay ours through our checking account, but I may change to a credit card now that I know we can pay for multiple months at a time -- the pain of going in every month to set up a payment had been holding us back.

Not sure what the OP means by concern over using the Medicare number. IIRC, we just provided CMS with our checking info (routing and account number) and no Medicare info went to our checking account.
 
Not sure what the OP means by concern over using the Medicare number. IIRC, we just provided CMS with our checking info (routing and account number) and no Medicare info went to our checking account.
Sounds like you set up a payment where CMS Medicare has your bank account information and debits your account every month or 3 months. In this scenario CMS is pulling the payments.

The rest of us are paying CMS Medicare from our account, i.e. pushing the payment. We didn’t give CMS Medicare our bank account details. We gave our bank the CMS Medicare account information instead which includes our Medicare number.
 
The rest of us are paying CMS Medicare from our account, i.e. pushing the payment. We didn’t give CMS Medicare our bank account details. We gave our bank the CMS Medicare account information instead which includes our Medicare number.
Got it. I guess I just figured that with pushing, in the event that either the payment date or the payment amount changed, I would need to take action with my bank to make the change. With CMS pulling, I don't have to.
 
That’s true. I didn’t want to deal with CMS pulling from our HSA in case of a screw up/need for reimbursement.

In terms of payment amount changing - that’s been quite straightforward. We get the letter at the end of November and then schedule the next year’s worth of payments. Since we pay monthly it’s straightforward.
 
Yes, DW and I have been paying monthly*** since mid 2019 direct from our joint checking account with no issues whatsoever.

***We’d prefer quarterly but that’s not an option for those of us paying IRMAA penalties too - no idea why.
Thanks for the response. You've eased my concerns. 😊
 
Sounds like you set up a payment where CMS Medicare has your bank account information and debits your account every month or 3 months. In this scenario CMS is pulling the payments.

The rest of us are paying CMS Medicare from our account, i.e. pushing the payment. We didn’t give CMS Medicare our bank account details. We gave our bank the CMS Medicare account information instead which includes our Medicare number.
Yes. That's the difference.
 
Yes, DW and I have been paying monthly*** since mid 2019 direct from our joint checking account with no issues whatsoever.

***We’d prefer quarterly but that’s not an option for those of us paying IRMAA penalties too - no idea why.
Why would you prefer quarterly?
 
This question Is directed toward people who currently paid for their medicare Part B premiums via their personal checking account. I'm just about to enroll in Medicare and was thinking about about making payments via my checking account. I was just a little concerned about using my medicare number for the account. I'm I over thinking this? I know Easy Pay is also an option, but would find the checking option easier. Your thoughts?
I had them bill me and paid via my bank's bill pay for a few time and then did EasyPay. I prefer EasyPay.
 
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