How to avoid Medicare Part B late enrollment penalty
If you are still working when you first become eligible for Medicare and are insured under your company’s group health insurance plan, you may wish to delay enrolling into Part B.
While there is usually a late enrollment penalty added to your premiums if you miss to enroll in Medicare at the time you are first eligible, there are certain cases, where you are officially allowed to delay your Medicare Part B enrollment without being penalized for it and having to pay higher monthly premiums for the future years. If you didn’t take Medicare Part B when you were first eligible because your spouse or you were still working, and had a group health plan coverage through your or your spouse’s employer or union, you are allowed to enroll in Medicare Part B in a so called ‘Special Enrollment’ and usually are not subject to a late enrollment penalty.
Special Enrollment Periods (SEP) describe the opportunity for Medicare beneficiaries to apply changes to their plan if certain events happen in their life. The Special Enrollment Period rules also applies to disabled Medicare beneficiaries who are working or are insurance with a working spouse or family member.
If you miss to enroll in Medicare Part B during your Special Enrollment Period, you will have to wait until the next General Enrollment Period, which is January 1 through March 31 of each year. You may then have to pay a higher Medicare Part B premium because you could have had Medicare Part B and did not take it.
For more information or to enroll in Medicare you may contact the Social Security Administration at 1-800-772-1213.
