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What is Part B late enrollment penalty?

What-is-Part-B-late-enrollment-penalty

The Part B penalty increases your monthly Part B premium by 10% for each full 12-month period you were eligible for Part B benefits but did not receive them because you never enrolled.  There are two main ways to avoid the Part B penalty and enroll in the right medical coverage at the right time.  You can delay enrolling in Part B, you must have group health coverage through your own or a spouse’s current employer, and have had that coverage – or have had Part B – during the first month you qualified for Medicare. You then must enroll in Part B coverage within the eight months following the last day of the month in which the sooner of these two things happens:

  1. Your or your spouse’s current employment status ends (even if coverage under the group health plan continues).
  2. Your or your spouse’s current employment-related group health plan coverage ends (even if you continue to be employed).

Learn More: Can I get financial assistance to help pay for Medicare?

People Also Read: What are Medicare Enrollment Periods?

Meet Melissa MacCalla

Medicare is not simple and can be hard, frustrating, and downright confusing for most. I love when I get someone on the phone and I am given the opportunity to explain the difference in plans to them and have Medicare make sense. I enjoy talking to clients year after year, hearing about their families growing or them asking about mine.

-Melissa

Senior Healthcare Solutions, you truly stand out from most other insurance agents. Thank you so much for all of your help and I know that you will have nothing but success with how you conduct business.

Joan B.

Montgomery, AL

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