Among all the plans that Social Securityhas active so that users in the United States can enjoy a good retirement, Medicare is one of the great helps. This is because thanks to Medicare, many retirees can have direct access to medical treatments, hospitalizations and other medical services at no extra cost. And not only that, but it should also be remembered that there is also a premium part that grants a great amount of direct benefits. The payment of this premium part is optional and is deducted directly from the Social Security benefit.
In this regard it should be noted that Medicare begins at age 65. Therefore, you cannot start using this service at the same time you apply for the early retirement age. This is one more point in favor of waiting for full retirement at age 67, although it is really something completely individual that the retiree can apply for depending on his or her personal situation.
Starting next year 2023 we will be able to see a discount on the premium part of the Social Security b-part. If you have this premium part active, you will be able to get a small discount on your Medicare payment. As we discussed earlier, it is not paid directly, but is deducted from your monthly Social Security check. So there are two increases to keep in mind, one related to the COLA, and one related to this discount on the Medicare part b payment.
How to get the Medicare discount?
The only real requirement to get this Medicare discount is to have the premium part of part b activated. If you are already paying the premium part, the price reduction process will be done automatically.
This means that you will not have to do any extra paperwork or call the Medicare or Social Security offices. Because it is an automatic process, you will see your Medicare payment discount without having to do anything more than continue using the service.
Turn off the premium portion for more savings
If you want to save a little more of your Social Security check each month, you can turn off the premium portion of Medicare Part b. This is automatically turned on in the Medicare premium portion of the service. This is turned on automatically in most cases. That’s why many seniors are paying for it without knowing it.
Check well that the services offered by this premium part of Medicare are useful for you. If not, cancel the service directly to save a good amount of money on your Social Security every month.