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Can it take longer than a couple of months for the deduction to start?
Premium deductions generally start two months after your edicare drug plan submits the request. It can take longer if there are problems with the request. Social Security will keep track of the number of months for which premiums are due. They will withhold the total premium amount that is due the first time they make a deduction.
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How do I pay my premiums until the automatic deduction starts
You don't have to pay your monthly Medicare drug plan premiums until the automatic premium deduction starts. When your request is processed, whatever premiums you owe will be withheld from your next Social Security benefit.
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I will be switching to a different Medicare drug plan. What do I need to do to stop the automatic premium deduction from my current Medicare drug plan?
You don't need to do anything. Your enrollment in a new plan will automatically stop the premium deduction from your current drug plan. It generally takes one to two months before the premium is no longer being withheld.
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How much are the 2007 monthly premiums for Medicare Part B?
Starting January 1, 2007, Your Part B Premium will be Based on Your Income
You Pay
If Your Yearly Income is
Single
Married Couple
$93.50
$80,000 or less
$160,000 or less
$105.80
$80,001-$100,000
$160,001-$200,000
$124.40
$100,001-$150,000
$200,001-$300,000
$142.90
$150,001-$200,000
$300,001-$400,000
$161.40
Above $200,000
Above $400,000
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If the Social Security Administration withheld the premium, Social Security will refund your premium. You should get this refund as an individual payment, separate from your regular monthly benefit, within six weeks after enrolling in a new plan.
The following is a listing of the Medicare premium, deductible, and coinsurance rates that will be in effect in 2007:
Medicare Premiums for 2007:
Part A: (Hospital Insurance) Premium
Most people do not pay a monthly Part A premium because they or a spouse has 40 or more quarters of Medicare-covered employment.
The Part A premium is $226.00 for people having 30-39 quarters of Medicare-covered employment.
The Part A premium is $410.00 per month for people who are not otherwise eligible for premium-free hospital insurance and have less than 30 quarters of Medicare-covered employment.
Part B: (Medical Insurance) Premium
$93.50 per month*
Medicare Deductible and Coinsurance Amounts for 2006:
Part A: (pays for inpatient hospital, skilled nursing facility, and some home health care) For each benefit period Medicare pays all covered costs except the Medicare Part A deductible (2007 = $992) during the first 60 days and coinsurance amounts for hospital stays that last beyond 60 days and no more than 150 days.
For each benefit period you pay:
A total of $992 for a hospital stay of 1-60 days.
$248 per day for days 61-90 of a hospital stay.
$496 per day for days 91-150 of a hospital stay (Lifetime Reserve Days).
All costs for each day beyond 150 days
Skilled Nursing Facility Coinsurance
$124.00 per day for days 21 through 100 each benefit period.
Part B: (covers Medicare eligible physician services, outpatient hospital services, certain home health services, durable medical equipment)
$131.00 per year. (Note: You pay 20% of the Medicare-approved amount for services after you meet the $131.00 deductible.)
Additional information about the Medicare premiums, deductibles, and coinsurance rates for 2007 is available in the September 16, 2006 Fact Sheet titled, "Medicare Premiums and Deductibles for 2007" on the www.cms.gov website.
*Note: If your income is above $80,000 (single) or $160,000 (married couple), then your Medicare Part B premium may be higher than $93.50 per month. For additional details, see our FAQ titled: "Medicare Part B Monthly Premiums in 2007"
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How will my employer retiree drug coverage work with my Medicare prescription drug coverage?
Your current or former employer or union should have sent you information that lets you know how your current coverage compares to the standard Medicare drug coverage. This information is important because it can affect the decision you need to make about joining a Medicare drug plan. Do not make any decisions until you have reviewed this information. If you did not receive information from your employer or union, you should contact the employer/union or the benefits administrator for your current coverage.
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How will my VA health benefits work with my Medicare prescription drug coverage?
Answer
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Creditable vs. Non-creditable Employer Retiree Drug Coverage
Answer Answer
If your current employer/union coverage is at least as good as the standard Medicare drug coverage (this is called creditable):
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How will my retail pharmacy discount work with with my Medicare drug coverage?
If you enroll in a Medicare drug plan, you will have access to a long list of prescription drugs at discounted prices, but you can still benefit from retail pharmacy programs (e.g., Wal-Mart, Target, K-Mart and other retail programs that cover selected generic drugs for $4, etc.).
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What options do I have for paying my Medicare drug plan premiums?
You have three main options for paying your Medicare drug plan premiums:
Automatic electronic monthly withdrawal from your checking or savings bank account;Receive a direct monthly bill from the plan; orAutomatic deduction from your monthly Social Security benefit
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I have requested automatic premium deduction from my monthly Social Security benefit. How long will it take for the automatic deduction to start?
It generally takes about two months from the time your Medicare drug plan submits the request for the premium deduction to start. This means that most of the time, the first time premiums are withheld from your Social Security benefit, two monthly premium payments will be withheld at the same time. Social Security will deduct only the cost of one monthly premium payment from your monthly Social Security benefit after that.
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What if my monthly Social Security benefit isn’t enough to cover multiple premiums at one time?
If your monthly Social Security benefit isn't enough to cover multiple premium payments at one time, the premiums won't be deducted. Your plan will bill you directly and you can pay them directly. You also can arrange with your plan for the premiums to be automatically withdrawn from your checking or saving bank account.
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Can I change my mind about the method I use to pay my premiums?
Answer
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If your monthly Social Security benefit isn't enough to cover multiple premium payments at one time, the premiums won't be deducted. Your plan will bill you directly and you can pay them directly. You also can arrange with your plan for the premiums
If the Social Security Administration withheld the premium, Social Security will refund your premium. You should get this refund as an individual payment, separate from your regular monthly benefit, within six weeks after enrolling in a new plan.
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What happens if I change plans and request automatic premium deductions from my Social Security benefits for my new plan, but the premium deduction from my previous plan doesn’t stop?
Social Security cannot process your request for automatic premium deduction for your new plan until the premium deduction for your previous plan is stopped. The request from your new plan will be rejected if the previous premium deduction hasn't been stopped first. Your plan will need to contact Medicare so they can find out why the new action won't take effect
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I believe that I have signed up for automatic withholding, but I have received a notice from my plan that I still owe premiums. What should I do?
Contact your plan to verify what your record shows about your method of payment. If your Social Security premium withhold hasn't been set up already, and you still want Social Security to withhold premiums, you may need to pay the first few months of your premium directly to your plan. Your plan also can help you start to withhold premiums for the future.
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I am eligible for the “extra help” with prescription drug costs or limited-income subsidy, but my plan is billing me for a premium. What should I do?
Contact your plan. The plan can check and make sure that your record correctly shows you should get extra help. Some people with incomes over a certain amount still pay reduced premiums. In these cases, you must apply for the extra help (it isn't automatic) and Medicare can help you enroll in a plan that works for you. Call 1-800-MEDICARE (1-800-633-4227) or visit the Medicare Prescription Drug Plan Finder on this website for more information about extra help with your prescription drug costs.
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Where should I call if I have other questions about options for paying my Medicare drug plan premiums, or about withholding premiums from my Social Security payment?
Answer
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