Most people don’t get a premium bill from Medicare because they get their Medicare Part B (Medical Insurance) Medicare premiums deducted automatically from their Social Security benefit payment (or Railroad Retirement Board benefit payment).
If you don’t get benefits from Social Security (or the Railroad Retirement Board RRB), you’ll get a Medicare premium payments bill from Medicare easy pay. If you pay for Medicare Part B premium only, you’ll get your Medicare Part B premium monthly premium bill every 3 months, however if you pay for Medicare Part A hospital insurance and/or Part D, you’ll receive your Medicare bill every month.
How do you understand your Medicare Premium Payments or your Medicare Premium Bill (CMS-500)?
The “Medicare Premium Bill” (CMS-500) is a bill for people who pay directly Medicare coverage directly for their Medicare Part A premium, Medicare Part B premium, and/or automatic payments. Remember that the Medicare premium collection center collects your premium payments via credit or debit card, or you will see a cms medicare insurance bill. Your Medicare Approved Amount premium payments include options to pay your medicare via credit or debit card, checking account, money order, or online payments.
How to Pay Your Medicare Premium Payment
Part D IRMAA
Most people don’t get a monthly premium bill from Medicare because they get these premiums deducted automatically from their Social Security (or Railroad Retirement Board) benefit.)
What is IRMAA?
An extra amount you pay in addition to your Medicare Part D prescription drug coverage plan premium, if your income is above a certain amount.
Your bill pays for next month’s Medicare coverage (and future months if you get the bill every 3 months). Your bill lists the dates you’re paying for.
Your bill may also include premiums for past months if:
- You’re getting your first bill from Medicare Premium Collection Center.
- You missed a payment on your Medicare premiums.
- Your premium amount changed.
Your bill arrives around the 10th of the month, sent by Medicare Premium collection center.
What should you do if you get this bill?
Pay the total amount of the bill by the due date, which is the 25th of the month for it to be considered on time. To pay your bill for your Medicare Advantage Plan or even if you don’t have Medicare Advantage, you can log onto medicare.gov, create your own secure Medicare account, sign up for Medicare Easy Pay to have it deducted from your checking or savings account. You can also check to see if your bank offers an online bill payment service to pay electronically from your bank account or you can also mail your payment by checking account, savings account, money order, credit card, or debit card.
Have any more question about your premium bill or want to sign up for Medicare? Give us a call — our expert agents in Coral Springs and Parkland are ready and waiting to help! For any more information, please contact Michelle Tunis at (561) 665-7752.
