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Not sure what plan is right for you? Take Our Medicare Quiz

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? What is Medicare Tax?

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