How do you pay for the coverage? Can it be deducted from your Social Security or your retirement check?:QuickMedicareSupplement.com

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How do you pay for the coverage? Can it be deducted from your Social Security or your retirement check?

How do you pay for the coverage? Can it be deducted from your Social Security or your retirement check?

In common, there are three methods to pay your Medicare drug plan premium:

1. You can have your premium mechanically deducted from a savings or checking account, or charged to a credit or debit card.

2. You can have the premium deducted from benefits you get from Social Security, if your monthly payment covers your required deduction.

3. Your Medicare drug plan can send you a bill every month. (For more details about your Medicare drug plan premium or ways to pay for it, get in touch with your plan.)

Make a note of:

It will take two to three months for your premium deduction to start after your coverage starts. When you first join a Medicare drug plan, your premiums for your first two or three months of coverage will be combined. For illustration, if you enroll in or switch Medicare drug plans in December for coverage that begins in January; your first premium payment will most likely be due in February. It will include your premium for January and February.

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