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.
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.