When to pay for Part C, Part D, and Medigap
You can buy Medicare Part C, Part D, and Medigap from private insurance companies. These companies bill their customers differently. In some cases, you may receive a monthly bill. Other insurance companies may allow you pay quarterly.
Medicare Advantage (Part C) plans may or may not consist of a monthly premium. This depends on the offer you select. Medicare Part D and Medigap plans normally have monthly premiums. The monthly premiums for part C, part D, or Medigap plan may be removed from your benefits when you start getting social security benefits. However, you should know that the process isn’t spontaneous. You’ll need to call the plan organizers to set up an automatic payment.
Some companies may automatically take three months or longer to remove your social security benefits. Seek advice from your plan provider on how to pay your normal premium during the three months or how to delay payments. In some cases, if you fail to pay during this period, it could lead to a big, single withdrawal of benefit funds the first time your premiums are removed.