Medicare makes it easy for beneficiaries to pay their Medicare premiums thanks to Medicare Easy Pay.
Medicare Easy Pay (MEP) is Medicare’s electronic payment option that allows beneficiaries to have their premium automatically deducted from a checking or savings account each month.
If you enroll in Medicare Easy Pay, Medicare will automatically deduct the amount of your Medicare Part A and/or Part B premium from your bank account each month. Upon doing so, you will receive a “Medicare Premium Bill” notifying you of the deduction.
The “Medicare Premium Bill” is not a bill. It’s just a notification to let you know the transaction has been completed.
The transaction normally occurs on the 20th of each month and will appear on your bank statement as an “Automated Clearing House (ACH)” transaction.
There is no cost to enroll in or use Medicare Easy Pay.
Anyone who receives a bill in the mail for their Medicare Part A or Part B premiums from the Centers for Medicare & Medicaid Services (CMS) is eligible to sign up for Medicare Easy Pay at any time.
Those who receive the bill for their premiums from the Railroad Retirement Board (RRB) are not eligible for Medicare Easy Pay.
To sign up for Medicare Easy Pay, print out the Authorization Agreement for Pre-authorized Payments form, fill it out, and mail it to:
Medicare Premium Collection Center
PO Box 979098
St. Louis, MO 63197-9000
You may have to wait six-to-eight weeks for your form to be processed and for your Medicare Easy Pay account to be set up. In the meantime, you will have to continue to make your Medicare payments by mail.
Do you need any assistance paying for your Medicare costs? If you have limited financial resources, there may be help available.
Medicare Advantage plans provide the same benefits as Medicare Part A and Part B, and some Medicare Advantage plans may also offer $0 monthly premiums.
$0 premium plans are not available in all locations, so speak with a licensed insurance agent today to learn more about Medicare Advantage plans available where you live.
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