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Ways to Pay for Your Medicare Part B Premium by Michele Malooley and Erin Fisher

October 06, 2020
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If you are receiving Social Security: Your Part B premium will be deducted automatically from your Social Security check. The government refers to the “check” as your benefit.

If you are not receiving Social Security: You would receive a Part B premium notice from Social Security. There are three ways to pay this premium:

1. Mail a check to the address on the premium notice.

2. Create a Medicare account at www.medicare.gov and set up payment via credit card, debit, savings or checking account. The premium can be paid monthly or quarterly on a recurring or non-recurring basis.

3. With most banks, the person can set up payment through your account on the bank’s portal. You can decide whether to have a recurring payment or not. It generally takes five days for the transaction to be posted to the beneficiary’s government account.

Federal government retirees and railroad retirees may have other options to pay the premium.