While most people do not have a premium for Medicare Part A, Medicare Part B will always have a premium that you are responsible to pay.
Wondering how to pay for Medicare? If you’re collecting Social Security Administration (SSA) or Railroad Retirement Benefits (RRB), your Medicare payments are automatically deducted from your monthly check. For those of you that aren’t on SSA or RRB, Medicare Easy Pay allows you to make your Medicare premium payments through your checking or savings account.
This article explores how easy it is to pay your Medicare premiums and how to set up payments.
What Is Medicare Easy Pay?
Medicare Easy Pay is a free way to have your Medicare premiums automatically deducted monthly from your checking or savings account.
If you are on SSA or RRB benefits, your Medicare Part B premiums are automatically deducted from your check each month. But if you don’t sign up for SSA benefits, Medicare will send a bill, depending on the Medicare type:
|Medicare Part||When you get a bill|
|Medicare Part A (hospital insurance)||Every month|
|Medicare Part B (medical insurance)||Every quarter|
|Medicare Part D Income-related monthly adjusted amount (IRMAA)||Every month|
Medicare premiums are due by the 25th of the month that you receive the bill. However, Medicare Easy Pay allows you to pay all bills through an automatic draft on the 20th of each month.
Who is Eligible for Medicare Easy Pay?
Medicare Easy Pay works for Original Medicare premiums, and not for Medicare deductibles for Part A or B. Anyone that receives a monthly bill from Medicare is eligible to sign up for Medicare Easy Pay.
How Do I Sign Up for Medicare Easy Pay?
There are two ways to sign up for Medicare Easy Pay: online and by submitting a paper form. Both sign-up options can take six to eight weeks to start after you submit.
- Log into your Medicare Account: You can log in, or create a free account
- Select “My Premiums” and the “Sign Up”
- Complete the short online form to apply
- Access Form SF5510, which you can type and complete on the web page
- Download and print the PDF
- Sign the form
- Mail the form to Medicare:
Centers for Medicare & Medicaid Services
Medicare Premium Collection Center
P.O. Box 979098
St. Louis, MO 63197-9000
- Wait for six to eight weeks for your application process
- Start having payments deducted from your account. Medicare’s initial draft can be up to three months of premiums. Your Medicare Premium Bills will state, “This is not a bill.” If Medicare cannot process your application, the agency will notify you.
You are still responsible for your premiums as the application processes. Medicare Easy Pay will only attempt to pay your premiums one time per month. If the draft is rejected, Medicare will send you a letter advising how to pay your premiums in other ways.
How Do I Update My Medicare Easy Pay Information?
The easiest way to update your information is to log into your Medicare account, select “My Premiums” and then “See or change my Medicare Easy Pay.” Then submit a short online form and wait six to eight weeks for the application to process.
Otherwise, you can complete a new SF-5510 form and repeat the steps in the “How to Sign Up for Medicare Easy Pay” section above.
It can take up to eight weeks to process a new request and your payments will continue to withdraw from the old account. If the account has been changed or closed, you will need to pay your premiums another way.
Does Medicare Easy Pay Work for All Medicare Plans?
No, Medicare Easy Pay only works for Original Medicare (Parts A and B) premiums and IRRMA Part D premiums charged by Medicare.
Which Medicare Plans Do Not Work With Medicare Easy Pay?
- Medicare Advantage
- Medigap (Medicare Supplements)
- Insurance company-billed Medicare Part D premiums
- Medicare Deductibles, Copays, or Coinsurance
Many insurance companies do offer an automatic deduction from a checking or savings account. It’s important to reach out to your insurance company if you would like your monthly payments drafted from your checking or savings account.
What Are the Other Medicare Payment Options?
Medicare Easy Pay is one of four options to pay your monthly premiums. Below are the other three options you have to make payments.
Mail a check:
- Include your payment coupon at the bottom of your bill
- You can pay by check, money order, or credit card
- Use the return envelope provided with your premium payment and coupon and mail them to:
Medicare Premium Collection Center
PO Box 790355
St. Louis, MO 63179-0355
If you pay by credit card, remember to sign and complete the coupon or your payment will not be processed.
Automatic bill pay: This can be completed with online banking or you can discuss this with your banking institution. Make sure that you set the following information:
- Your 11-character Medicare Number: Do not include dashes or spaces. Medicare numbers do not include the characters B, I, L, O, S, or Z. If there is an “O” on your card, it is a zero.
- Payee Name: CMS Medicare Insurance
- Payee Address: Medicare Premium Collection Center, PO Box 790355
St. Louis, MO 63179-0355
- The amount of your payment
It’s important to note that it can take up to five business days for online bill pay to send a paper check. Medicare payments are due by the 25th of the month. To be safe, it may be a good idea to have your payment sent out by the 15th of each month for mail processing and delivery time.
Pay through Medicare.gov:
- Log into your secure Medicare.gov account
- Select “My Premiums” from the dropdown menu and then “Pay Now”
- Choose your payment method and the amount
- Medicare will then link you to the U.S. Department of the Treasury’s secure Pay.gov to complete your payment
Learn More From Our Sources
- CMS | SF5510: Authorization Agreement for Preauthorized Payments | Last accessed November 2022
- Medicare | How to Pay Part A & Part B Premiums | Last accessed November 2022
- Medicare | Medicare Easy Pay | Last accessed November 2022
- Medicare | Online Bill Payment | Last accessed November 2022