Part B late enrollment penalty
If you do not sign up for Part B when you are first eligible and you do not qualify for a Special Enrollment Period, your Part B premium may increase 10% for each 12-month period you were eligible but not enrolled. That surcharge can last as long as you have Part B.
Part D late enrollment penalty
If you go 63 days or more without For Part D, coverage Medicare treats as at least as good as standard drug coverage. That can let you delay Part D without a late penalty. Part B delay depends on group coverage from current work. Get either answer in writing. prescription coverage after you are eligible, you may pay a Part D penalty for as long as you have Part D. The amount is based on how long you went without coverage.
How to reduce the risk
Know your Initial Enrollment Period. Ask whether you can delay Part B because of coverage from current work, and whether your drug coverage is For Part D, coverage Medicare treats as at least as good as standard drug coverage. That can let you delay Part D without a late penalty. Part B delay depends on group coverage from current work. Get either answer in writing. for Part D. Do not assume a Marketplace plan is a substitute for Medicare after 65. If you already have a penalty, an advisor can still help you understand current options — the penalty itself is generally administered by Medicare or the plan.