Deduction from annuity

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Q: I am a retired federal employee and receive an annuity. I pay for my Medicare Part B quarterly. I would like to have this cost deducted monthly from my annuity. Is there a form to do this? If so, where can I get this form?

A: According to OPM, if you aren’t receiving Social Security benefits, you can have Medicare premiums withheld from your annuity payments. To do this, OPM must receive a request for the withholding from the Centers for Medicare and Medicaid Services. They cannot withhold premiums based on your direct request or even one from the Social Security Administration.

 

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Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

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