If you pay for your Medicare premiums by automatic deduction from a Social Security check, some of your insurance coverage could be cancelled.
A “processing error” led to premiums for Medicare Advantage plans (Part C) and prescription drug plans (Part D) to go unpaid nationwide for 250,000 retirees – all the way back to January – according to Social Security and Medicare. As many as five months of premiums are delinquent for some beneficiaries.
Be on the lookout for letters from your insurance companies asking for payment – letters that might easily be overlooked as junk mail or a scam attempt – as insurers notify their customers of the payment lapses. You can either contact your insurance carrier or broker to assist you in this matter.
You may think that your premiums for your policies are current, however find they are not.
Retirees will need to find money to pay the outstanding premiums, because Social Security cannot deduct premiums for past months.
