Medicare Enrolling in Parts A & B # 11036 28 Pages
Part A (Hospital Insurance)
Part B (Medical Insurance)
Can I get Part B if I don’t have Part A?
How do I know if I have Part A or Part B?
Part C (also known as Medicare Advantage)
Part D (prescription drug coverage)
When can I sign up?
Getting Part A and Part B automatically
Signing up for Part A and Part B
Turning 65 and you or your spouse is still working
Medicare and End-Stage Renal Disease (ESRD)
Can I still get Medicare at 65?
I have Health Insurance Marketplace coverage
I have coverage through a health savings account (HSA)
Living outside the U. S.
Video - Deciding to Sign up for Part B Doctor & Out of Hospital
Set a phone, Skype or Face to Face Meeting to review your quotes, needs & wants.
If I don’t sign up for Part B when first eligible, what happens?
In most cases, if you don’t sign up for Part B when you’re first eligible, for Medicare, as you have a 7-month Initial Enrollment Period to sign up for Part A and/or Part B. you’ll have to pay a late enrollment penalty. You’ll have to pay this penalty for as long as you have Part B.
Your monthly premium for Part B may go up 10% for each full 12-month period that you could have had Part B, but didn’t sign up for it.
Also, you may have to wait until the General Enrollment Period (from January 1 to March 31) to enroll in Part B. Coverage will start July 1 of that year. See page 11 Publication 11036 Enrolling in Medicare for full details Usually, you don’t pay a late enrollment penalty if you meet certain conditions that allow you to sign up for Part B during a Special Enrollment Period. If you have limited income and resources, your state may help you pay for Part A, and/or Part B. You may also qualify for Extra Help LIS to pay for your Medicare prescription drug coverage.
Your Initial Enrollment Period ended September 30, 2009. You waited to sign up for Part B until the General Enrollment Period in March 2012. Your Part B premium penalty is 20%. (While you waited a total of 30 months to sign up, this included only 2 full 12-month periods.) You’ll have to pay this penalty for as long as you have Part B.
Jeremy turned 65 in 2011. He did not sign up for Medicare Part B until 2017.
His penalty is: 10% x 6 years = 60 His penalty is thus 60% on top of the premium 0.6 X $134 (2017 Part B premium) = $80.40 penalty $80.40 + $134= $214.4
Jeremy will pay $214.4 on a monthly basis as his penalty Part B premium. United Medicare Advisors
The New York Times: Why You Shouldn’t Wait To Sign Up For Medicare Part B [George Zeppenfeldt-Cestero] should have signed up for Medicare Part B three years earlier when he turned 65. By delaying, he had missed the best window — the so-called Initial Enrollment Period — to apply for Part B, which covers much of what we consider health care: doctor visits, tests, injectable drugs (including chemotherapy), ambulances, physical therapy and other non-hospital services.
As a result, he has to pay permanently higher premiums, and he had to endure an unsettlingly long period — from December to July — before the coverage actually kicked in. (Span, 10/26)
Related Pages in Part B – Doctors – How to sign up Section
- Employment Coverage vs Medicare Parts A, B & D
- Part B Late Enrollment Penalty
Medicare and You 2020 #10050
Everything you want to know
Different Parts of Medicare
Understanding your Medicare Choices
Medi Gap vs Medicare Advantage
Medicare & You - Online