How Do I Defer Medicare Coverage?

By
Mary Salazar
-

7Late Enrolment Penalties

In case you miss both initial and special enrolment, penalties for late enrolment can be high and long-term.

For those who are not qualified for premium-free Medicare Part A and purchase it late, the premium per month would increase by 10 percent in two times the period that they did not enroll. For instance, if a person deferred Medicare for 3 years, their monthly premium will be higher for the next 6 years.

For those who enroll in Medicare Part B late, they will be a lifelong penalty along with a premium each month. This amount is 10 percent of the regular premium for each 1-year period they were qualified but did not enroll. [7]

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