How to Pay Your Medicare Monthly Premium!

Published by Mary Marshall on

Your monthly premium will be taken from your Social Security Check. If you are not on Social Security you will receive a Quarterly bill in the mail from Medicare. This option can be dangerous if you neglect to pay the bill. You will lose your Medicare benefits and because you lost your coverage you will be penalized for not having it. There is a way to set up monthly payments automatically from your checking account automatically so you will never lose your Medicare coverage.

Here is an example of how crummy it can be to loose your Medicare coverage:
You’re in the hospital or someone you love is having an emergency. You are not paying attention to paying your Medicare bill because it is only coming every 3 months. You lose your coverage. You have to wait until Jan 1st of the following year to re-enroll. It does not become effective until July 1st  of that year. So you have to go un-insured all that time plus incur a penalty. That is sure no way to go!

 

https://www.cms.gov/medicare/cms-forms/cms-forms/downloads/sf5510english.pdf

– Print this off and fill it out and send it in with a canceled check!

 

Please contact me if you are having a problem filling the form! I can coach you over the phone. Don’t ever let this happen to you!

 

Thank you and if you would like me to post on a topic please let me know!

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