Medicare Premiums


How to Pay Your Medicare Premiums

Now that you have Medicare, you want to be sure you can keep it. Stay up to date with the plans you have by paying your premiums. You have several options.

Paying Medicare Parts A & B premiums

If you receive Social Security retirement benefits, your Part B premiums will automatically come out of your Social Security check. See more information at Medicare.gov (https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html). Otherwise, you will get a bill every quarter (3 months). If you pay for Part A, you will get a bill for that, too. You can pay these bills in multiple ways.

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Paying Medicare Part C, Part D, and Medicare Supplement premiums

You have choices on how you pay premiums for your private plans, which are based on the carrier. These are some of your choices:

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You may be able to have these premiums come directly from your Social Security also. Check with Medicare, or your carrier, for details and options.

Late Payments

If you don’t pay your Medicare premiums, you risk losing coverage. Part B billing comes in 3-month increments. Then, you have a 3 month grace period, after the due date. If you have not paid by the end of the grace period, you’ll receive a letter letting you know that your coverage will be terminated at the 4-month mark, unless you can pay in full no later than 30 days after termination notice.

Private plans (Part C, Part D, Medicare Supplements) treat failure to pay premiums differently. Check with your plan provider to learn about their late payment policies and procedures. All providers must notify you in writing, before cancelling your coverage.

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