The March Medicare payment comes from the SS payment you receive in March, which is February's SS payment. SeeMy understanding from the written communication from Medicare is that the premium for March would be deducted in February. However, the person I spoke to on the phone said that the premium for March would be deducted in March. I'm not 100% sure that the person I spoke to on the phone truly understood the question. My wife is to start Medicare in March, but she did not have any deduction taken in February. She does have a Medicare card with a 03/01/24 start date.Are you saying that the March Part B premium is deducted from the February SS benefit that is received in March? Just trying to understand since SS is paid in arrears by 1 month.I just got off the phone from SSA/Medicare. They confirmed that, despite the wording in their Feb 2nd letter, they deduct the Part B premiums in the month the premium covers. So her first covered month is March and March will be the first month that the deduction occurs.
https://www.aarp.org/retirement/social- ... ed-ss.html
"SS is paid in arrears and Medicare is paid in advance. Think of it like this. SS transfers your benefit to your "account" on the 1st of each month. Your Medicare for that month is removed on the 1st of each month. Then on one of the appropriate Wednesday paydays, SS sends you the remaining funds from your "account". So your February benefit is deposited March 1st and your March Medicare payment is pulled from it March 1st. On the 4th Wednesday [for late in the month birthdays], they will pay you the rest of your benefit amount."
if you overpay due to starting SS in the middle of the quarter after making a quarterly Medicare payment, Medicare may still take it out of your SS benefit but will refund the overpayment within 90 days.
Wrench
Statistics: Posted by Wrench — Sun Feb 25, 2024 2:15 pm — Replies 12 — Views 1672