Medicare Easy Pay
Many new Medicare enrollees are shocked to get their first bill for Medicare Part B in their mailbox and see the amount be $400+. Wait…wasn’t it supposed to be $170.10/mo?
Unfortunately, the default billing for Medicare Part B is QUARTERLY paper bill. Yuck!
Thankfully, there is an ‘easier’ way
What is Medicare Easy Pay
Medicare Easy Pay is the system that allows you to have your Medicare Part B premium automatically deducted from your bank account each month, typically on the 20th day.
You’ll see it on your bank statement as “CMS Medicare Premium”.
We strongly recommend setting this up because its much easier AND you are less likely to miss a payment which could mess up your benefits.
How to Sign Up For Medicare Easy Pay
The quickest way to sign up for Medicare Easy pay is by logging into your Medicare.gov account.
Click on “My Premiums” and then click “Sign Up”. You’ll fill out a short form and you’ll be all set.
How Long Until It Kicks In?
It depends. You can expect it to take up to 6-8 weeks before your monthly premiums start getting deducted from your checking account.
WARNING: Your initial deduction can be up to 3 months’ premiums. After the first deduction it will be taken out one month at a time.
Medicare sure can be confusing, huh? We made a video that goes through Medicare step-by-step. This is the easiest way to learn. Check it out!