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Old 10-09-2017, 06:32 PM
 
45 posts, read 21,896 times
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Hi Ditto, I'm not retired yet, but I have some experience through others with the situation you describe.

The second signature on the Treasury form is for the owner of the bank account and/or the power of attorney, etc. to sign. In your case, it will probably be you.

When your Social Security payments start, all the premiums for Medicare, including the IRMAA premiums for the B and D (if you have D) will be deducted from your benefit, if it is high enough.

Although SSA and Medicare are two different agencies, they seem to communicate well about the premium payments. If you prepay your Medicare premiums and SSA deducts them for the same months, they'll reimburse you about six weeks later.

As reed303 pointed out, SSA benefits are paid a month in arrears and Medicare premiums are deducted the month they are due. Thus, a benefit for January is paid in February and the February Medicare premiums are deducted from the January benefit received in February.

I couldn't find a good link for you, but Medicare's phone number is on your card (1-800-Medicare).
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Old 10-09-2017, 07:24 PM
 
Location: Grove City, Ohio
10,133 posts, read 12,383,606 times
Reputation: 13961
Quote:
Originally Posted by reed303 View Post
When I started Medicare before SS, I paid the MC bill quarterly by check by mail for one year. When SS benefits started, due to an overlap of previous MC payment, and first SS benefit with MC deduction, they refunded 2 of 3 month quarterly payment. All automatically.

Remember, MC is paid in advance, SS benefits are in arrears.
This is the way I understand it to be.
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Old 10-09-2017, 08:50 PM
 
8 posts, read 9,674 times
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Quote:
Originally Posted by Katyroadpink View Post
Hi Ditto, I'm not retired yet, but I have some experience through others with the situation you describe.

The second signature on the Treasury form is for the owner of the bank account and/or the power of attorney, etc. to sign. In your case, it will probably be you.

When your Social Security payments start, all the premiums for Medicare, including the IRMAA premiums for the B and D (if you have D) will be deducted from your benefit, if it is high enough.

Although SSA and Medicare are two different agencies, they seem to communicate well about the premium payments. If you prepay your Medicare premiums and SSA deducts them for the same months, they'll reimburse you about six weeks later.

As reed303 pointed out, SSA benefits are paid a month in arrears and Medicare premiums are deducted the month they are due. Thus, a benefit for January is paid in February and the February Medicare premiums are deducted from the January benefit received in February.

I couldn't find a good link for you, but Medicare's phone number is on your card (1-800-Medicare).
So, Kateyroadpink, See attached (hopefully) a screenshot (jpg) of the entire Easy Pay Form. I am the account holder and all. So are you saying you believe I sign both in about the middle, just above the FINANCIAL INSTITUTION part, and more importantly, the one I am struggling with, also at the very bottom of that FINANCIAL INSTITUTION PART, with the title "Signature and Title of Representative"????? You think that is me in both places???? I will likely also ask someone as SS soon as well but I'm not sure they will know the answer, to be honest.

Is it ME in both places??? See screenshot assuming I get it to attach...

thanks
Attached Thumbnails
Medicare first, now ready to sign up for Social Security-easy-pay-form.jpg  
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Old 10-09-2017, 08:53 PM
 
8 posts, read 9,674 times
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And notice how it also says this from Expires 5/31/17. Oh great... never easy...

And regarding what you said about who gets what when, what I think I hear is if you earn benefit in January, SS will pay you however much is owed from January in February. And then, whatever Medicare premium you will owe for February's Medicare benefit we will also be taken out of that January amount which will lower the January amount you will get paid in February by the amount you owe for February's Medicare premium??? Wow, did I make a run on sentence or what??? But is it basically accurate???

So benefits paid in arrears and premiums paid in advance, in essence??? Right???

thanks for all your help.
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Old 10-10-2017, 09:30 AM
 
Location: WA
5,395 posts, read 21,393,457 times
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I paid part B on a quarterly basis for a time before filing for SS and after a couple of phone calls insisting I needed to still pay for the month SS began I did it, thinking it was not valid. A month or so later I was sent a refund check. The other confusing thing was getting new medicare cards as they actually used a system where the number was different depending upon how you paid for part B.
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Old 10-10-2017, 09:31 AM
 
45 posts, read 21,896 times
Reputation: 108
Ditto, I think you would sign in both places, as long as it is your bank account. I don't think the date on the form would keep Medicare from accepting it. I looked online for a more recent form and came up with this:


https://www.gsa.gov/forms-library/au...rized-payments

However, I was unable to view it on my Ipad since it is a PDF form! If you plan to sign up for retirement soon, this form will be a moot point because they will deduct all your SMI and IRMAA premiums from your check.

Yes, benefits are paid in arrears and premiums are deducted from the payment received in the month they cover.

Good luck with all this. if you're anxious about your premiums, just pay every bill Medicare sends you, in full. If you overpay, it won't take them long to make it right.
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Old 10-10-2017, 10:46 AM
 
Location: OH>IL>CO>CT
5,232 posts, read 8,399,632 times
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Quote:
Originally Posted by Katyroadpink View Post
Ditto, I think you would sign in both places, as long as it is your bank account. I don't think the date on the form would keep Medicare from accepting it. I looked online for a more recent form and came up with this:


https://www.gsa.gov/forms-library/au...rized-payments

However, I was unable to view it on my Ipad since it is a PDF form! If you plan to sign up for retirement soon, this form will be a moot point because they will deduct all your SMI and IRMAA premiums from your check.

Yes, benefits are paid in arrears and premiums are deducted from the payment received in the month they cover.

Good luck with all this. if you're anxious about your premiums, just pay every bill Medicare sends you, in full. If you overpay, it won't take them long to make it right.
This new version of the 5510 form (link above ^^^), when opened in Adobe Reader, has a "pop-up" on the lower signature block stating "Sign here if you are representing the financial institution"
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Old 10-10-2017, 10:47 AM
 
Location: SoCal
6,064 posts, read 9,527,749 times
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We took our form to our credit union, and a credit union employee signed at the bottom. I do not believe that is for you to sign yourself. It's for someone from your financial institution to sign.
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Old 10-10-2017, 11:16 AM
 
8 posts, read 9,674 times
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Thanks folks. All very helpful. First, I work on a Mac and my newest Mac doesn't even have Adobe Acrobat Reader on it anymore as I instead use a Mac application called Preview. But Preview would NOT work. So I went to an older Mac I have that DOES have Adobe on it and when I clicked on the link and saved the document, it was only a disclaimer saying if this won't open then likely your pdf viewer is not blah, blah. Which is true cause within the web browsers, even on this older computer, I use Preview and not Adobe. But that useless version, downloaded to my desktop and then opened explicitly with Adobe Acrobat suddenly turned in to the document you described. How strange... And yes, I do see what you say reed303 about "Sign here if you are representing the financial institution". And thanks oddstray cause you say you took your's to your financial institution and they signed that part. Has to be what they want.

And to your point, Katyroadpink, yes, I am a worrier about bills and especially ones for Medical benefits that can get cancelled if you don't pay like you are supposed to. And since I get a mailed bill from Medicare once a month and they seem to always send them right about the 10th or so and they say "call them if they are not there by the 10th" even though I doubt they could help you if say your mailman sent your bill to some other address and the other folks tossed it. That unfortunately happens here in a retirement community (small town) we moved to. So yes, the monthly billing things has to stop, either by me going to Easy Pay (not likely) or me just biting the bullet and taking SS so they can take it out of that check, I kick myself for not having made that my choice from the getgo... I am here trying to learn about both options, Easy Pay vs just signing up for SS Benefits so they can take the payment for me.

And one more thing, yes I was told that I have a different letter on the end of my SS Medicare Card because I am NOT currently taking SS. But when I DO start taking benefits, yes, I will get a new card with a different letter on the end of the card. Again, I am kicking myself for not doing that from the start.

Thanks for all the help, everyone...
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Old 10-10-2017, 02:29 PM
 
Location: SoCal
6,064 posts, read 9,527,749 times
Reputation: 5790
We had zero problems with Easy Pay. Yes, it took a month or so to take effect. But we had no doubt when it had taken effect. And when we started drawing SS, it was automagically switched to being deducted from the SS payment so we didn't need to do anything about changing it.

If you're that worried, then taking SS right away does eliminate the need to deal with Easy Pay (at the expense of the increases you might get from postponing SS payments). But Easy Pay really is easy - that's not false advertising.
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