Navigating Medicare Enrollment
Enrolling in Medicare late can be costly.
As you approach Medicare eligibility, we will help you review your enrollment options with a licensed insurance professional. Most individuals qualify at age 65. If you are not yet receiving Social Security benefits, you generally need to enroll during your seven-month Initial Enrollment Period, which begins three months before your 65th birthday.
Enrolling late may result in additional costs being added to your monthly premiums:
- Part B (doctor visits, lab tests, & preventive care) may carry a penalty of about 10% of the standard premium for each full year you delayed, lasting for twice that number of years.
- Part D (prescription coverage) may add a 1% penalty for each month you delayed enrollment, applied for life.
Please review your Medicare options & timing with a licensed insurance consultant to determine the coverage most appropriate for your situation.
