What is Medicare Easy Pay & How Does it Works

August 08 14:54 2022

The automated payment system developed by CMS to pay your Medicare premiums in Medicare Easy Pay. Centers for Medicare & Medicaid Services provides Medicare Easy Pay from a bank account or savings account for Medicare Part A and Medicare Part B Premium Payments. Most individuals get Part A at no discount, so for Part B premiums only, individuals usually use Easy Pay. If you sign up for Medicare Easy Pay, it will automatically subtract your premiums from the account you specify.

How Does Medicare Easy Pay Work?

The Center for Medicare and Medicaid Services (CMS) will take 6 to 8 weeks to process your application after you sign up for Medicare Easy Pay by sending in your enrollment application.

Note, it is necessary to pay any billed premiums in the meantime. 

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Then, when you’re set up, CMS will give you a financial statement called a “Medicare Premium Bill” on a monthly basis. But, this is only for your reference, because when you’re set up for Medicare Easy Pay, you won’t have to pay it, since it will now be deducted monthly from your account. CMS has a diagram to help you read this document here.: www.medicare.gov/sites/default/files/2018-07/11659-understanding-cms-500.pdf

Medicare.gov also reports that by the 20th of the month, premiums usually come out of your checking or savings account.

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How Do You Sign-up for Medicare Easy Pay

Enroll From Medicare.Gov

Log in or create your secure Medicare account at account.mymedicare.gov/ — Select “My Premiums” and then “Sign Up” to complete a short, online form.

Enroll By Mail

Fill out and mail a paper form — Print the Authorization Agreement for Preauthorized Payments form (SF-5510): PDF in English or HTML in English or PDF in Spanish or HTML in Spanish. Mail your completed form to:

Medicare Premium Collection Center PO Box 790355 St. Louis, MO 63179-0355

Via Medicare.Gov

Furthermore, if you’re already signed up for Easy Pay, but want to make a move, this is also the address you’re going to send the same form into. Only add the adjustments you want to make for the new Easy Pay Enrollment on the same form you would send in.

Enroll yourself in Person

Alternatively, you may also go to the local Medicare office / Social Security office and make an appointment via the office to send your details.

Click here to learn more about Medicare

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