Medicare Part B Penalty | This Decision Will Help Or Hurt Your Future
Jacob Torres • April 21, 2021
Why signing up for Medicare Part B is important.
If you didn’t get Medicare Part B when you first became eligible, your premium for Part B will increase by 10% for each full 12-month period you could have had Part B, but didn’t sign up. The penalty is for life, so if you didn’t have part B coverage for 3 years you will have a 30% Part B penalty plus your Part B premium.
If you have creditable coverage through your employer and you meet certain conditions that allow you to sign up for Part B during a Special Enrollment Period; usually, you don’t pay a late enrollment penalty.
Call me at 727-688-3330 if you have questions or if you want to schedule a free consultation.
If you didn’t know. Now you know.
Jacob Torres with Best Advice Medicare
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