If you do not enroll in Medicare, you will not receive the Medicare benefits until you do enroll. Despite there being enrollment periods, you can still sign up regardless of how long you have gone without enrolling. It is best to know how this works in relation to the enrollment periods below.

You can enroll by visiting ssa.gov or calling 1-800-772-1213. You may also go to a Social Security office near you.

Understanding Enrollment Periods

Enrolling during Medicare’s initial enrollment period will be the most beneficial from a financial standpoint. That period lasts from the three months before you turn 65 to the month you turn 65 to three months after you turn 65. During this time, there are no late fees, and you can even get a premium-free plan with Part A (if you qualify).

Likewise, you won’t have to worry about late fees in some instances, such as the Special Enrollment Period. Examples include:

• Being covered by your employer’s health insurance
• Being disabled, with a spouse or family member who is working
• Working as a volunteer, serving outside of the U.S.

For Special Enrollment Periods, you’re first able to sign up without late fees:

• The first month after you are no longer employed
• The first month after your employer’s group health insurance coverage ends

Late Enrollment Fees

If you do not sign up for Medicare when you are first eligible, you will be subject to late enrollment fees.

Signing up during the Initial Enrollment Period is advantageous. Otherwise, Medicare will not be as affordable.

Plan A is premium-free when signing up for the initial enrollment period. The consequences for not signing up during this period, however, are:

• For Part A, your monthly premium will have a 10% cost increase, which you will pay for double the years you did not sign up when you were first eligible.
• Part A penalty example: if you went for three years without enrolling, you would be paying the additional 10% fee for the next six years.
• For Part B, your monthly premium goes up an additional 10% per year you did not sign up. 
• Part B penalty example: if you enrolled three years after your initial or Special Enrollment Period ended, you would be paying a 30% higher monthly premium. This will be the case for as long as you have Part B.
• Part D’s late fee is based on the number of full months you went without signing up for prescription drug coverage (also includes coverage from other health insurance). You pay an additional 1% for every month you did not sign up.
• Part D penalty example: you signed up 36 months after the Initial Enrollment Period ended. You will be paying an additional 36% per month. This percentage is multiplied by that year’s base beneficiary premium ($32.74 in 2020). The resulting number is rounded to the nearest dime. In 2020, that would be an additional $11.80 per month (.36 x 32.74 = 11.78, but the additional cost would be $11.80 since the figure is rounded to the nearest dime).

Have questions or concerns?

We are here to assist you with any inquiries you may have regarding Medicare and the various aspects of it. We won’t let any question go unanswered. We will address all concerns you have because at Sannes Insurance, we are dedicated to your needs. Call us today at (509) 993-9887 for more information.