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February 5, 2024

Medicare is a health insurance program provided by the federal government that helps individuals aged 65 and older, as well as certain younger individuals with disabilities, cover their medical expenses. Part B of Medicare specifically covers outpatient services, including doctor visits, preventive services, and medical supplies. In order to receive these benefits, individuals are required to pay monthly premiums. One convenient payment option available for Medicare Part B premiums is called Medicare Easy Pay. In this article, we will explore what Medicare Easy Pay is, how it simplifies premium payments, and provide step-by-step instructions on how to sign up for this service.

Medicare Explained: What is Medicare Easy Pay? How to Sign Up?

Medicare Easy pay is a way that Medicare recipients are able to pay their Medicare Part A (Hospital) Part B (Medical), Part C (Prescription Drug) premiums automatically monthly.

Default Payment Option for Medicare Part B

If you are not receiving Social Security retirement benefits the default payment option for Medicare Part B premiums is a quarterly paper bill sent through the mail. This default payment option is applicable to people who receive Social Security, Railroad Retirement Board, or Office of Personnel Management benefits.

Ways to Pay Medicare Part B Premiums

Aside from the default payment option, there are other methods available to pay Medicare Part B premiums. These include:

  1. Direct Billing: Medicare sends a "Medicare Premium Bill" (Form CMS-500) to the individual's address every three months. This bill can be paid via mail by check or money order.
  2. Online Payment: Payments can be made securely on the official Medicare website by linking a bank account or using a credit or debit card.
  3. Medicare Easy Pay: This payment option allows individuals to have their Medicare Part B premiums automatically deducted from their chosen bank account each month.

What is Medicare Easy Pay?

Medicare Easy Pay is a free, voluntary service offered by Medicare that simplifies the process of paying Medicare Part B premiums. Enrolling in Medicare Easy Pay ensures timely and hassle-free premium payments without the need for writing checks or mailing payments. Once enrolled, the Medicare Part B premiums are automatically deducted from the individual's bank account on a monthly basis.

How to Sign Up for Medicare Easy Pay

Signing up for Medicare Easy Pay is a straightforward process. Here are the step-by-step instructions:

Fill out a Straightforward Online Form

login to mymedicare.gov
  1.  Go to www.mymedicare.gov and log in using your username and password. If you don't have an account, select "create an account now" to sign up.
  2. Make sure to save your login details as there is a lot of useful information available within your profile for future access.
  3. Click on your name in the top right corner to open the "My Account" and "My Information" menus, then select "My premiums".
  4. In the "My premiums" section, you can view your current monthly premium for Medicare Part B, historical bills, and payment history. If you've recently signed up for Medicare, your information may not be visible yet.
  5. To set up recurring payments via Medicare Easy Pay online, look for the "Sign Up" button indicated by the red arrows, and click on it.
  6. You will now see the sign-up form for Medicare Easy Pay. Carefully enter your bank routing number and account number, check the box, and click "Submit" to complete the registration process.

Complete form SF-5510 – Authorization Agreement for Preauthorization Payments and send it to CMS

  1. Gather Required Information: Before starting the enrollment process, make sure you have your Medicare Part B premium bill, bank account information (routing number, account number), and your Social Security or Medicare claim number.
  2. Access the Medicare Easy Pay Enrollment Form: Visit the official Medicare website at https://www.cms.gov/sf5510-authorization-agreement-preauthorized-payments  and download the "Authorization Agreement for Preauthorized Payments" form (SF-5510). Alternatively, you can call 1-800-MEDICARE (1-800-633-4227) to request a form by mail.
  3. Read and Fill Out the Form: Carefully read the form's instructions and fill it out with accurate and up-to-date information. Ensure you select the checkbox for Medicare Part B premiums.
  4. Attach a Voided Check or Deposit Slip: To verify your bank account information, attach a voided check or a deposit slip to the form.
  5. Review and Sign the Form: Double-check the completed form for accuracy, then sign and date it.
  6. Submit the Form: Mail the completed form along with the voided check or deposit slip to the address provided on the enrollment form. It is recommended to send it by certified mail to ensure it reaches Medicare securely.
  7. Wait for Confirmation: After submitting the form, Medicare will process your enrollment request. It may take some time to receive confirmation. Once enrolled, Medicare Easy Pay will begin deducting your Medicare Part B premiums from your chosen bank account each month.

It can take up to 6-8 weeks for your automatic deductions to start. Until your automatic deductions start, you'll need to pay your premiums another way. If Medicare can't set up Medicare Easy Pay for you, They will send you a letter explaining why.

Your payment will show up on your bank statement as “CMS Medicare Premium”.

Automatic Deduction of Medicare Premiums from Social Security Payments

Once you start receiving payments from Social Security, your Medicare premiums will be automatically deducted from that amount instead of the bank account you set up with Medicare Easy Pay.

Once you access your MyMedicare profile, you will notice that the "How you pay" section has been updated to reflect this change.

Medicare How You Pay mymedicare.com

Conclusion

Managing your Medicare Part B premium payments can be a hassle-free experience with Medicare Easy Pay. To sign up for this convenient payment option or if you have any questions related to Medicare, contact Lehigh Partners Senior Benefits by phone at 833-265-9655 or request an appointment. Their experienced professionals can provide personalized guidance and support throughout the Medicare enrollment process.

Kim Porter


About the Author

Kim Porter, known as "The Medicare Chick," is a seasoned professional with extensive expertise in the realm of Medicare insurance. With a passion for assisting individuals in navigating the complexities of Medicare, Kim is dedicated to educating and empowering people to make well-informed decisions about their healthcare coverage.

With years of experience in the insurance industry, Kim possesses a comprehensive understanding of Medicare plans, including Medicare Advantage, Medicare Supplement, and prescription drug coverage. She is highly regarded for her exceptional customer service, attention to detail, and genuine care for her clients' well-being. Alongside working one-on-one with clients, Kim conducts educational workshops and seminars to share valuable insights and help a wider audience grasp their Medicare benefits. As "The Medicare Chick," Kim Porter is committed to serving as a trusted advisor and advocate, ensuring that Medicare beneficiaries receive the coverage they deserve and empowering them to make the best choices for their healthcare needs.

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