As long as your bank offers online bill pay, and you receive a bill from the Centers for Medicare & Medicaid Services (CMS), you can sign up for automatic online bill pay.
Either go online to your bank’s webpage or call your bank to set up the payments. When you contact your bank, be sure to give them:
- Your Medicare account number without dashes. This number is located on your red, white and blue Medicare card.
- The biller name, which is “CMS Medicare Insurance”
- The biller’s address, which is :
Medicare Premium Collection Center
P.O. Box 790355
St. Louis, MO 63179-0355
Be sure to tell the bank how much you owe each month so they can take that amount out of your account. Also, remember to contact your bank as soon as that amount changes, such as if your premium changes with the new year.
Some banks charge a fee for paying bills online – check with your bank to see if there is a charge involved.
On your bank statement you should see a charge to “CMS Medicare.” Check your statement carefully and make sure your premiums are being paid on time.
There is also an option called Medicare Easy Pay to set up automatic deduction of premiums from your checking or savings account. With this option, you won’t need to inform your bank of changes in your premium, as CMS will automatically adjust the amount if your premium changes.
Note that Medicare premiums, or monthly fees for Medicare Part B, can change based on different circumstances, such as whether you are on Social Security, whether this is your first year on Medicare, whether your receive Railroad Retirement Benefits, whether you have Medicaid, and how much income you earn. Premiums can also change from year to year. To get help or more information, call 1-800-MEDICARE or contact your local SHIP program.
Medicare doesn’t cover everything. Luckily, those on Medicare can now start saving on out of pocket expenses like prescription drugs, dental, vision, hearing, and more. Over 1 million people have already received their free Medicare Plus Card.(Read More...)