Medicare Part B is an essential part of Medicare that covers medically necessary services such as doctor visits, outpatient care, and preventive services. While most people qualify for premium-free Part A, Part B requires payment of a monthly premium. For those who do not receive Social Security benefits, paying for Part B can be a bit confusing. In this blog, we’ll go over the options available for paying for Medicare Part B without Social Security.
Medicare Easy Pay
One of the most common ways to pay for Medicare Part B is by having the monthly premium automatically deducted from a bank account. This option is available to everyone, regardless of whether or not they receive Social Security benefits. To set up automatic deduction, you will need to complete a Medicare Easy Pay form, which is available on the Medicare website. This option helps ensure you don’t miss a payment and have lapse in coverage.
Monthly Medicare Billing Statements
If you prefer to receive a monthly billing statement for your Part B premium, then you would need to manually pay your invoice each month. It’s important to note that this option is only available to those who do not receive Social Security benefits.
If you opt to receive a monthly billing statement, you will get a bill in the mail called “Notice of Medicare Premium Payment Due.” But it is important to remember to pay your bill each month by the due date, even if you do not receive a statement. Medicare bills are due on the 25th of the month. Medicare advises that you submit your payment at least 5 business days before the due date to get your payment in on time.
Your statement will outline the following multiple options for paying your monthly premium bill; Online with Medicare account, Bill pay through your bank, or by mail.
Pay your Part B online through your secure Medicare account:
Log into (or create) your secure Medicare account to use this free service to pay by credit card, debit card, or from your checking or savings account. See our blog on How to Create a Medicare Account.
Paying Medicare Part B with Bill Pay:
Pay directly from your savings or checking account through your bank’s online bill payment service. Some banks charge a service fee. Get details on timing with your bank and pay early so your payment goes through on time.
Mail your Part B payment to Medicare:
Pay by check, money order, credit card, or debit card. Fill out the payment coupon at the bottom of your bill and include it with your payment. If you’re paying by credit or with debit card, be sure to complete and sign the coupon. If you don’t sign the coupon, they can’t process your payment and it will be returned to you. Use the return envelope that came with your bill, and mail your Medicare payment coupon and payment to:
Medicare Premium Collection Center, PO Box 790355, St. Louis, MO 63179-0355
Include your payment coupon with your payment so they can apply your payment to your account. They can’t process your payment on time without the coupon. If you don’t have your payment coupon, write your Medicare Number on the check or money order.
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