Medicare: Late Enrollment Penalties
Missing your Initial Enrollment Period can lead to late enrollment penalties for Medicare Parts A, B, and D, often resulting in higher monthly premiums. Understanding how these penalties are calculated can help you plan ahead and avoid long-term costs.
Created by DeafHealth with the support of the Patient Advocate Foundation and Pfizer, these videos on Medicare in American Sign Language (ASL) will give you the skills to make informed decisions about your coverage, the benefits offered by Medicare, and how to use your insurance confidently. The videos cover different topics including Medicare Parts A, B, C, D, and Medigap Plans.
- American Sign Language Medicare Guide: https://deafhealthaccess.org/updates/health-insurance/
- English Medicare Guide: https://www.patientadvocate.org/wp-content/uploads/MedicareBenefitsGuide_English-1.pdf
- Medicare Resources Sheet: https://www.patientadvocate.org/wp-content/uploads/Medicare-Resources-Section.pdf
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Transcript and Video Description
[Video Description: The post has a video thumbnail with blue shading overlaid. The top middle has "Medicare: Late Enrollment Penalties” in white text with light blue background, accompanied by a yellow bubble with “Medicare” in blue. In the video: A nonbinary person with long, curly brown hair that is shaved on the right side of their head and pulled back stands in front of the camera. Behind them is a light wooden entry table with a potted monstera plant set against a green wall. They are wearing light gray denim jeans and a dark green top with a mixed gold and silver chain necklace.
Transcript: If you do not enroll in specific plans during your Initial Enrollment Period, there can be late enrollment penalties for Medicare Parts A, B, and D that you may need to pay through increased premiums, or your monthly payments. For Medicare Part A, if you need to buy Part A because you do not qualify for a premium-free plan or did not enroll during your Initial Enrollment Period, your monthly premium may increase by 10% for double the number of years you didn’t have Part A. For Medicare Part B, if you did not enroll in Part B during your Initial Enrollment Period, your penalty will increase by 10% for each full year you continue without Part B coverage. This penalty will last for as long as you have Medicare Part B. If you go 63 days or more after your Initial Enrollment Period without Part D or other creditable drug coverage (like a prescription plan through your employer or a spouse’s employer), you will be penalized for late enrollment. The Late Enrollment Penalty dollar amount will depend on how long you go without Part D or other drug coverage and will usually last for as long as you have Medicare drug coverage. The penalty amount is 1% of the national average of the premium for Part D plans (called the national beneficiary base premium) times the number of full, uncovered months you did not have Part D or other creditable drug coverage. The monthly premium is rounded to the nearest $.10 and added to your monthly Part D premium. The national beneficiary base premium can change by year, which will affect the penalty amount you pay. [The screen fades to show a thumbnail of a faded white background of a doctor holding hands with another individual] Deaf. Healthy. DeafHealth. Learn more at www.deafhealthaccess.org. [The screen fades to show a thumbnail of a blue lighthouse] Paf. Patient Advocate Foundation. www.patientadvocate.org.]