Part D From Your Checking? (pension, payment, activity, medicare)
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Is there a reason not to have one's Medicare Part D deducted from checking account? We have been doing this for a few months but I wondered if anyone has run into problems with the arrangement. We also have Part G payments deducted from checking.
My payment to part D comes out of my social security except for the 2 months when it's a new year and plan. Then I have to self pay. So much easier not having to deal with making the payment myself. Is there a reason you don't set yours to automatically come out of your social security?
My BCBS medigap is paid monthly by checking account. I have to log in to BCBS to do it. Eventually I may see if I can set it up through the bank to pay it without giving BCBS authorization to make it as an auto pay. BCBS's site is horrible lately. I've been asked to type in a code they send to my cell phone that last 4 times I've paid my bill. I think it's dumb because we pay it from the same 2 computers for the last 10 years.
Quote:
Originally Posted by galaxyhi
I've always had my part d and supplemental auto deducted from my checking account.
My part d insurance company was sold/merged/combined with another, so I received a direct bill in the mail.
I'll see if I can set it up to Auto deduction.
The reason I have auto deducted is IF I'm in the hospital, I want no interruptions in my payments for any of my insurance.
I also get like a $2/m deduction in premium (big whoop) by doing it this way.
I've never had a problem in 19 years.
Best to all
They should give everyone something worthwhile such as maybe $5 reduction for doing it that way and consider doing at least another $5 per month if someone goes to paperless which I'm sure saves them a ton of money every month.
Quote:
Originally Posted by steiconi
I have it on autopay, so the bank sends the money. I have full control, and can change or stop it any time. With deductions, you're giving the company permission to take money out of your account, and have to get them to stop.
I have not done auto pay in years because I had a few bad experiences with companies taking double payments out, then they were slow to credit the money back to my account. Once you start auto pay, it can be pretty hard to stop these days because the bank sees it as a recurring vendor site, so they will keep putting it through.
Some companies can be a royal pain to unlink a bank or credit card from an account. Xfinity is one of them. If you put a credit card on the account to pay the bill, it will save the card, you're not able to take the credit card off of the account without entering another valid credit card. This is without setting up auto pay. It will then use that saved credit card to pay the bill without you opting into auto pay. Once Xfinity starts auto-paying every month, it can even be hard to stop it by calling the bank. I learned this by letting my daughter use my card to pay her cell bill, so take it as a warning for other retired people helping their kids out.
I don't know if any of the health insurance companies have gotten like Xfinity.
Yeah that was going to be our plan. Wife turns 65 in April and will not file for SS, glad to see this is an option. Free bonus points which translates into free money.
Is there any fee for doing this? Every government entity I've ever seen charges a premium for credit card payments (eg, property taxes add 3% in my county).
I would be stunned if there was no fee. And once my jaw relocates, I'd switch in a heartbeat!
Nope. They can be deducted directly from your Soc Sec payment.
Is that something new? When I originally got my high deductible F plan and when I switched carriers four years ago, having the medigap premium deducted from social security was not an option either time. I had to pay directly either by a check or automatically deducted from my checking account.
I have it on autopay, so the bank sends the money. I have full control, and can change or stop it any time. With deductions, you're giving the company permission to take money out of your account, and have to get them to stop.
I guess I wasn't entirely clear:
By autopay, I mean I have instructed my bank to send $xxx each month from my checking account, either by transfer or paper check. I can change that online any time, as often as I like.
Autopay via credit card can be much more difficult to change.
Is there any fee for doing this? Every government entity I've ever seen charges a premium for credit card payments (eg, property taxes add 3% in my county).
I would be stunned if there was no fee. And once my jaw relocates, I'd switch in a heartbeat!
There is no fee for payment of my Plan D. It is also easy to cancel. For my Medigap, only bank payments are allowed. That's a bummer as it would generate more miles.
I paid my Part D Aetna Silverscript, the entire year all at once, on credit card. It was $90 for the year ($7.50/month). I paid it manually on their website. I don't remember if they asked, but I always uncheck the box when it asks can they store my credit card number. In case they are hacked, I don't want them having my credit card.
I pay the Medicare Part B premium quarterly with a credit card, logging into the Medicare site (not yet taking social security). 1% credit card points = a free hamburger.
My AARP/UHC Medigap is auto-deducted from checking account monthly. They give a $2/month discount for this.
No fees for paying the Part D or Part B using a credit card.
May be a good idea, but it would take he entire Atlanta Falcons defensive line to force me onto another airplane. And even then some of them are going to get hurt.
I ain't going.
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