Ask Larry

What Can I Do About Social Security Withholding Medicare Premiums?

Just about to turn 65. S.S. sent me a letter saying they will be taking 170 dollars a month for part b for Medicare. What can I do

Hi. Well, you could choose to decline the automatic enrollment in Part B of Medicare, but then if you need to see a doctor or go to an emergency room you'll have to pay the bill yourself unless you have other health insurance coverage that's primary to Medicare. Also, there are only certain periods of time in which you can enroll in Part B of Medicare. If you decline to enroll in your initial enrollment period at age 65 and later decide that you want Part B coverage, you may have to wait up to 15 months before you can enroll and a 10% premium surcharge could be added to your monthly premium rate for each year that passes before you enroll.

I would suggest that you call Social Security or visit with a Medicare expert to discuss your options with regard to Part B of Medicare. You may also want to read the following fact sheet from Medicare's website: https://www.cms.gov/Outreach-and-Education/Find-Your-Provider-Type/Emplo....

Best, Jerry

Category: 
Posted: 
Dec 16 2021 - 11:56am
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