Common Medicare Questions
Still have questions about Medicare? We can answer them for you. We receive questions every day from our clients, and have compiled a list of those we are asked most frequently. If you don’t see the answers to what you’re looking for, contact us and we will speak to you personally!
How much is the Part B late enrollment penalty?
If you do not enroll in Part B when you are first eligible, you risk paying a 10% late enrollment penalty for each 12-month period where you went without. The late enrollment penalty will remain for as long as you are enrolled in Part B. So if you waited 2 years to enroll in Part B from the time you were first eligible, you would pay a 20% penalty when calculating your Part B premiums for that year and every ensuing year. Note: If you miss your initial enrollment period, you can apply for Parts A and B during the General Election Period which runs from January 1-March 31 of each year. Successful enrollment would start your Part A and B benefits on July 1st of that calendar year. However, if beyond 12-months, you would still face a penalty for Part B late enrollment.