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Ask Megan C Your Own Question
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Social Security
Satisfied Customers: 16547
Experience:  Licensed CPA, CMA, CFE, CGMA M.Accy Also Teach Accounting courses at Master's Level
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My wife just signed up for medicare and I have just retired

This answer was rated:

My wife just signed up for medicare and I have just retired from my business where my medicare monthly charge was taken out of my paychecks. I understand that my wife and I should be receiving a bill each month and that payment must be received by the 25th of each month. We have not received any bills for August so what do we do?

MyVirtualCPA :

I realize you have a question about social security. My goal is to help you better understand your options.

MyVirtualCPA :

Are you currently drawing social security?

MyVirtualCPA :

If you are currently drawing social security, typically your medicare premiums will be deducted from your monthly benefit. If not, there are a couple of different ways you can pay your premium.

MyVirtualCPA :

CLICK HERE to learn more

Customer:

I typed an answer but don't see a send icon to click on

MyVirtualCPA :

I just got your response which reads "I typed an answer but don't see a send icon to click on"

MyVirtualCPA :

but I did not get whatever you wrote before that

Customer:

My wife works full time, is 69 and has received SS since reaching 65. I am 78, Just now retiring, getting SS since I was 65. Medicare premiums have until now been withheld from my pay checks. Hope this answers your question.

MyVirtualCPA :

The medicare premium should be deducted from your social security payment. If it's not, then you can send in payments using the link I provided above.

Customer:

Is it done automatically? It is based on income so in my wife's case do they review her tax return and then calculate her premium and deduct it? In my case if I no longer get a paycheck, do they just see that no payment was made and then contact me or bill me?

MyVirtualCPA :

They should just take it from your social security check, and if they don't they will send you a bill

MyVirtualCPA :

if your payment is not made

Customer:

Thank you and have a good day. John

MyVirtualCPA :

They will send you a bill

MyVirtualCPA :

You too, if you wouldn't mind, please rate my response as "excellent" so that I may receive credit for assisting you today

Customer:

Where do I click on this page to rate you?

MyVirtualCPA :

On the bottom of the screen there should be a scale...click 5 stars for excellent service

MyVirtualCPA :

it's either stars or smileys

Megan C and other Social Security Specialists are ready to help you
Thank you for your positive rating, John. It was a pleasure working with you today. If you come back and ask another question, please request MyVirtualCPA directly.

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