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How do I pay my Medicare drug plan premium?
There are three ways to pay your Medicare drug plan Premium :
- You can have your premium automatically deducted from a savings or checking account, or charged to a credit or debit card.
- You can have the premium deducted from benefits you get from Social Security if your monthly payment covers your necessary deduction.
- Your Medicare drug plan can send you a bill each month. (For more information about your Medicare drug plan premium or ways to pay for it, call your plan.)
Note:
It will take two to three months for your premium deduction to begin after your coverage starts. When you first join a Medicare drug plan, your premiums for your first two or three months of coverage will be combined. For example, if you enroll in or switch Medicare drug plans in December for coverage that begins in January, your first premium payment will probably be due in February. It will include your premium for January and February.
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(Primary Source: Centers for Medicare and Medicaid Services - Medicare and You Handbook 2007. This content may have been added upon by Q1Group LLC to include further examples, explanations, and links.)
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Last updated on: 07/18/2008
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