When can I enroll (Turning 65 standard enrollment, i.e. not employer coverage) – You can first sign up for Part A and/or Part B during the 7-month period that begins 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65. If you enroll prior to turning 65, coverage will start on the 1st day of the month. The exception is if your birthday is on the 1st, your coverage will start the 1st of the previous month.
How do I enroll in Medicare? – You can visit your local Social Security office or enroll electronically starting at the Medicare.gov website.
What are penalties for late enrollment?
- Part B – Your monthly premium for Part B may increase 10% for each full 12-month period that you could have had Part B, but didn’t sign up for it. This is a permanent penalty
- Part D – Medicare calculates the penalty by multiplying 1% of the “national base beneficiary premium” ($35.02 in 2018) times the number of full, uncovered months you didn’t have Part D or creditable coverage. The monthly premium is rounded to the nearest $.10 and added to your monthly Part D premium. This is a permanent penalty and is recalculated off the national base beneficiary premium each year