If you choose a plan with a monthly premium, you may have three options for paying it. Choose the one that works best for you.
- Automatic deduction from Social Security or Railroad Retirement Board (RRB) benefit check1 – You can choose to have your monthly premium payments automatically deducted from your Social Security or RRB benefit check. Automatic deduction from your Social Security/RRB benefit check is easy and convenient.
- Automatic deduction from checking account – You can choose to have your monthly premium payments automatically deducted from your checking account using the Electronic Funds Transfer (EFT) process. EFT is safe, convenient and saves you money on postage.
- Monthly bill – You may pay by mail each month (we will provide you a monthly bill). You may also make advance payments. If making a payment for the entire year, you will only need to submit one bill along with a check for the total premium amount due for the year.
Note: Whatever payment option you choose—Electronic Funds Transfer (EFT), Social Security/RRB check withholding or monthly bill–will apply to your entire premium. In other words, you cannot pay part of the premium with a benefit check and part with a personal check or automatic withdrawal.