Penalties for late Medicare Part A and Medicare Part B Enrollment

Penalties for late enrollment in medicare parts A and B are the following:

Late enrollment in Medicare Part A: Most people are eligible for Medicare Part A at age 65, and if you don't enroll during your Initial Enrollment Period (IEP), you may be subject to a late enrollment penalty. The penalty is an additional 10% of the Part A premium for twice the number of years you were eligible for Part A but did not enroll.

Late enrollment in Medicare Part B: Most people are also eligible for Medicare Part B at age 65, and if you don't enroll during your IEP, you may be subject to a late enrollment penalty. The penalty is an additional 10% of the Part B premium for each full 12-month period you were eligible for Part B but did not enroll in.

It's important to note that the late enrollment penalties for Part A and Part B are permanent, and you may have to pay them for as long as you have Medicare coverage.

There are some exceptions to the late enrollment penalties, such as if you had other health insurance coverage that was as good as or better than Medicare during your IEP, or if you qualify for a Special Enrollment Period (SEP) due to a life event, such as losing your job-based health insurance.

To avoid late enrollment penalties, it's important to enroll in Medicare during your Initial Enrollment Period, which is a seven-month window that begins three months before the month of your 65th birthday, includes the month of your birthday, and ends three months after your birthday month.

MedHelpCenter.us recommends that you call the Senior Health Insurance Agency at 813-592-8568 for further explanation.