To sign up for Medicare Easy Pay, send the completed Authorization Agreement for Pre-authorized Payments, Form SF-5510, to the St. Louis, Missouri, Medicare Collection Center, according to Medicare. The application is available for download on Medicare's website, Medicare.gov.Continue Reading
Medicare's Easy Pay is an electronic payment option offered at no cost that allows people to have their monthly premium payments deducted from their checking or saving account, explains Medicare. Anyone who receives a bill for Medicare premiums from the Centers for Medicare and Medicaid Services can sign up for Easy Pay at any time. Once the applicant mails his application, it takes six to eight weeks to process the form. If for some reason the application cannot be processed, the applicant's form is returned with an explanation letter.
If approved for Easy Pay, the applicant receives a Notice of Medicare Premium Payment Due, which advises him the notice is not a bill, it just notifies him when the premium is deducted from his bank account. The premium is generally deducted on the 20th of each month and appears on the applicant's bank statement as an ACH, or Automated Clearing House, transaction, states Medicare. If the bank rejects the attempt of withdrawal, Medicare sends the applicant a letter with further instructions.Learn more about Health Insurance