Question

Mr. Lopez, who is fairly well-off financially, would like to enroll in a Medicare prescription drug plan you represent and simply give you a check to cover his premiums for the entire year. What should you tell him?

Answer 1

Answer: Mr. Lopez will need to be told about how Part D enrollees can pay their premiums. They have 3 choices to pay and must choose one of the ways to pay. He will not be able to write a check to cover the yearly premiums.

He can choose one of the 3 ways to pay his premiums;

1.) He can choose automated withdrawal from his bank account or debit card.

2.) He can choose to have the premiums from his monthly check from his SSA check.

3.) He can also choose to be billed for premiums.

It may take him 3 or 4 months to get for the SSA check to begin withholding his premium. When it begins, they will take off all the money owed from the prior months. In most cases, he must choose one of these options, he can call his plan and speak with them to set up his choice.