
Blunt Warning From U.S. Social Security: Watch Out for Medicare, Required to Pay
Be Very Careful with Social Security: If You Do This with Medicare, You'll Have to Pay a Hefty Fine
The United States Social Security has issued a clear warning: enrolling late in Medicare can be very costly. Millions of Americans could face permanent penalties if they don't register on time for parts A, B, and D of the program.
Final SSA Notice on Medicare: Why It's Important to Enroll on Time
Medicare is the public health system for people over 65 years old or with certain disabilities. It is divided into several parts. Part A covers hospitalizations, Part B covers doctor visits and outpatient services, and Part D covers prescription drugs.

Enrolling late in any of these parts can result in a higher premium added to the monthly cost. What's worse for many people, in many cases, it lasts a lifetime.
Late Enrollment Penalties: SSA Doesn't Joke Around
Part A: if you aren't entitled to free Part A and enroll late, your monthly premium can increase by 10% for twice the time you were without coverage. For example, if you were 2 years without enrolling, you'll pay the penalty for 4 years.
Part B: the penalty is 10% for each full year you delayed your enrollment. This penalty is added to your monthly premium and is paid for life. For example, if you delayed 2 years, you'll pay an additional 20% each month.

Part D: if you don't enroll on time and don't have "creditable" drug coverage (equivalent to or better than Medicare), you'll pay an additional 1% for each month without coverage. This penalty is also permanent and is added to your monthly premium.
How to Avoid These Penalties? Social Security Lends a Hand
The best way to avoid these penalties is to enroll in Medicare during the Initial Enrollment Period, which begins three months before turning 65 and lasts seven months in total.
If you have medical coverage through your employer or your spouse's employer, you might qualify for a Special Enrollment Period when that coverage ends, allowing you to enroll without penalty.
It's crucial not to forget these deadlines. Social Security emphasizes that it is the individual's responsibility to know and comply with the enrollment periods. Forgetting to enroll on time is not only "prohibited," but it can also result in significant additional payments.
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