The penalties that last a lifetime — and how to dodge them
Miss your Medicare enrollment windows without other qualifying coverage and you can face penalties that are added to your premiums for life. The good news: they’re almost always avoidable with the right timing.
The Part B late penalty adds 10% to your premium for each full 12-month period you could have had Part B but didn’t — and it usually lasts for life. The Part D penalty adds roughly 1% of the national base premium for every month you went without creditable drug coverage. Small monthly amounts, but they compound over years.
Enroll during your Initial Enrollment Period, or keep creditable coverage (like a qualifying employer plan) and enroll through a Special Enrollment Period when it ends. The key is not letting more than 63 days pass without creditable coverage. We track the deadlines so you never trip one.
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Generally no, as long as the coverage was “creditable” and you enroll within the Special Enrollment Period after it ends. Keep proof of your coverage dates — we’ll help you file for the SEP correctly.