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Video instructions and help with filling out and completing medicare easy pay setup
Next question how do I pay for my Medicare premiums okay Medicare premiums and I'm assuming you're not talking about the insurance but actual Medicare Medicare Part A Medicare Part B Medicare Part D here's what you need to know the first thing is when it comes to Medicare Part A the vast majority of people do not need to pay for it Medicare Part A has been part of the taxes that you pay your whole life as long as you've got 40 quarters in of working years or 10 working years you are not going to have Medicare Part A premium there are some people that do for whatever reason they don't have it or their spouses don't have it and then there's other reasons why some people may have it so for the most part you do not have a Medicare Part A premium you do however have part of a Medicare Part B premium to pay and I say part because most people think the amount that they pay for Medicare Part B is the premium it's actually not it's one-third the premium whatever you pay there's basically you multiply it by three and you've got the full Medicare premium for Medicare Part B but you're only paying a third of it now I give you the amount but I don't know when you're going to watch this what year it is and even if it's this year when I'm recording this 2021 some people are paying different premiums than other people so just know that the premium that you pay depending on when you started Medicare may not be the same as the premium your spouse pays or the premium your neighbor pays and it is because when you started Medicare or in some cases it could be because of the amount of income you had two years ago that could also have an impact on your Medicare Part B premium so the amount you pay is going to be different but this is how you pay it I'll start with the simplest first if you have if you are collecting Social Security when you go on Medicare your Part B premium is just going to be deducted from Social Security that's it it's that simple I believe you have an you have a choice of stopping that and not doing it that way but for the most part you are going to get a if you're collecting Social Security your premium is just going to come out of your Social Security check before you even get so that's all going to be taken care of for you the process is going to be automated nothing to do just you know make sure in your budget that whatever Social Security says your Medicare Part B premium is just know that it's going to be deducted from your Social Security check each month so you can take it out of your budget hmm excuse me.