SS at age 70 and Medicare Easy Pay

[meleana]

So we are paying our Medicare premiums through easy pay out of our checking account each month and will claim SS at age 70. My question is:

What happens to our easy pay when we apply for SS? Will SS start taking out Medicare premiums from our SS check or will easy pay just continue on?

What are the pluses or minuses of having SS take the Medicare premiums out of our SS checks vs our bank account? I thought I read something about a hold harmless provision that protects you from having your Social Security check reduced if the annual increase in the premium is higher than Social Security’s cost-of-living adjustment (COLA).
IF you have the premiums taken out of SS?

And how exactly is this done- what are the logistics? What do we need to do to let SS and Medicare know what our choice is?

I can’t seem to find this information anywhere online.

 

[MissMolly]

When you apply for SS your Medicare premiums will be automatically deducted. I have never seen anything that allows you to continue to pay on your own once you are receiving your SS benefits (and frankly, I don't know why you would want to). If there is a double payment at the time of starting your benefits, SS will automatically refund the overpaid premium to you.

 

[meleana]

When you apply for SS your Medicare premiums will be automatically deducted. I have never seen anything that allows you to continue to pay on your own once you are receiving your SS benefits (and frankly, I don't know why you would want to). If there is a double payment at the time of starting your benefits, SS will automatically refund the overpaid premium to you.

Yes. I read a while ago somewhere you can continue to pay with easy pay. It is not required to have SS deduct Medicare premiums from your checks when you claim SS after age 65 and already have Medicare. I just
can’t seem to find anything anywhere about this.

So once we apply for SS they will automatically take the premiums out and tell Medicare to stop Easy Pay? You would think they would have this information on their website.

 

[nate2953]

Yes. I read a while ago somewhere you can continue to pay with easy pay. It is not required to have SS deduct Medicare premiums from your checks when you claim SS after age 65 and already have Medicare. I just

can’t seem to find anything anywhere about this.

HI 01001.040 Beneficiaries in Benefit Payment Status

A. POLICY

The Social Security Act requires that premiums be deducted from monthly benefits. The beneficiary does not have the choice of paying his/her premiums by check or money order to avoid the deduction.

 

[meleana]

HI 01001.040 Beneficiaries in Benefit Payment Status

A. POLICY

The Social Security Act requires that premiums be deducted from monthly benefits. The beneficiary does not have the choice of paying his/her premiums by check or money order to avoid the deduction.

What I had previously read said the exception is when you are already automatically enrolled in Easy Pay you can continue.

Another question:

Right now at the end of the year I withdraw the money we paid in premiums from our HSA account and put that money back in our checking account. I save all the Medicare premium bills to back this up.

So if SS starts deducting the premiums from our SS checks will there be some kind of stub that shows the Medicare premium each month so I can continue to do this?

 

[nate2953]

What I had previously read said the exception is when you are already automatically enrolled in Easy Pay you can continue.



Another question:



Right now at the end of the year I withdraw the money we paid in premiums from our HSA account and put that money back in our checking account. I save all the Medicare premium bills to back this up.



So if SS starts deducting the premiums from our SS checks will there be some kind of stub that shows the Medicare premium each month so I can continue to do this?

No to your first question. I suppose you could keep making payments, but you will no ifs/ands/or/buts have Part B withheld from your monthly benefit amount, and end up getting periodic refunds.

Second question: you’ll get an SSA-1099 showing Medicare Part B premiums withheld. You might be able to print something from a mySSA account, but for sure the SSA-1099 will show premiums withheld from benefits.

 

[meleana]

No to your first question. I suppose you could keep making payments, but you will no ifs/ands/or/buts have Part B withheld from your monthly benefit amount, and end up getting periodic refunds.

Second question: you’ll get an SSA-1099 showing Medicare Part B premiums withheld. You might be able to print something from a mySSA account, but for sure the SSA-1099 will show premiums withheld from benefits.

Ok. Thanks.

So if SS starts automatically taking out the premiums won’t they tell Medicare to cancel Easy pay?

 

[MissMolly]

Ok. Thanks.

So if SS starts automatically taking out the premiums won’t they tell Medicare to cancel Easy pay?

Yes. It's automatic. And any overpayment due to switching is automatically refunded.