If you’re enrolled in Medicare Part B, but NOT receiving Social Security retirement benefits, you must pay your Part B premium directly to Medicare.
Video: How to Pay Your Medicare Part B Premium
There are 4 ways to pay this premium…and 2 ways that are NOT allowed.
But first, which Medicare premiums are we talking about?
Part A (if applicable) - most don’t pay a premium for Part A
Part B
Part B IRMAA - for those with higher adjusted gross income two years ago (this is in addition to your Part B premium)
Part D IRMAA - for those with higher adjusted gross income two years ago (this is in addition to your Part D plan premium)
How you pay the premiums depends on whether you’re currently receiving Social Security benefits.
If you are receiving Social Security retirement benefits…
Your premiums to Medicare will automatically be deducted from your monthly Social Security retirement benefits.
If you are NOT receiving Social Security retirement benefits…
You’ll receive an invoice typically every 3 months from Medicare, and need to choose from one of the following payment options:
By Mail (Via Check, Credit Card, or Debit Card)
Write a Check
You can write a check for the balance due (payable to CMS Medicare Insurance), and mail it directly to the Medicare Premium Collection Center (P.O. Box 790355, St. Louis, MO 63197).
This can be paid out of your checking account or Health Savings Account (if you have HSA checks).
Credit or Debit Card
On the premium invoice, you also have the option to enter your credit or debit card information. Be sure to add your signature to authorize the payment. Then mail the invoice to the Medicare Premium Collection Center at the address listed above.
This can be paid with your credit or debit card, as well as your HSA debit card.
online bill pay Through Your Bank
Just like any other bill you pay through your bank’s website, you can simply add CMS Medicare Insurance as an online bill payment. Use your Medicare Number as the account number. Your Medicare Number is listed on your Medicare card, as well as on the billing invoice.
Medicare Easy Pay
This is an option that automates monthly payments, rather than paying every 3 months. You will need to complete and return the Authorization Agreement for Pre-Authorized Payments form (SF-5510) to the Medicare Premium Collection Center (P.O. Box 979098, St. Louis, MO 63197). ← NOTE: This is a different P.O. Box than the one for mailing premium payments.
It can take Medicare up to 6-8 weeks to process the paperwork. So you should pay the first three months in full by one of the methods above while your Easy Pay paperwork is processing. After that, automatic payments will be made monthly out of your checking account…usually around the 20th of each month.
MyMedicare.gov Account
After creating your account at MyMedicare.gov, select “My Premiums” and then “Pay Now”. You will then be prompted to select your payment method, such as credit/debit card, checking account, or savings account. Follow the instructions to complete the transaction.
You can also setup Easy Pay to have the premium paid automatically every month, rather than going into the site each time you receive a premium invoice.
There are two Ways You CANNOT Pay Medicare Premiums…
With cash or by phone
Reference Links
medicare.gov
MyMedicare.gov
How to Pay Your Medicare Premiums
Medicare Easy Pay
IRMAA (Income Related Monthly Adjustment Amount) Premiums
