Can you tell me more about the different payment optionspayroll/annuity deduction, automatic bank withdrawal, and direct billing?
Payroll/annuity deduction: Premiums are automatically deducted from your pay/annuity. Most employees, annuitants, and active and retired members of the uniformed services choose this method of payment. Automatic bank withdrawal (ABW): Premiums are automatically withdrawn from your savings or checking account. The withdrawal is processed on the third business day of every month. Direct billing: You will receive a bill at your designated mailing address during the month before your premium is due. You can pay more than one month’s premiums at any time. Some enrollees decide to pay their premiums on a semi-annual or annual basis. You can change to any of these options at any time and for any reason after submitting your application. To change your method of payment, you must complete a billing change form.
Related Questions
- Can you tell me more about the different payment options - automatic bank withdrawal, payroll/annuity deduction, and automatic direct billing?
- Can I change my automatic bank withdrawal or establish a direct, recurring payment or purchase through the Payment Center?
- I like the convenience of the automatic bank draft payment plan. How is online billing different?
