This week’s Medicare column consists of “What if” Medicare questions from Toni Says readers around the United States.
1. What if I did not enroll in Medicare Parts A and B when I should have, because I do not want to pay that extra Part B premium each month? I do not go to the doctor or take any prescriptions. Can I enroll later?
Toni Says: If you are past 65 years and 90 days old, not working full-time with employer benefits and decide to enroll in Medicare Part B, then you will have a big Medicare problem. You must wait until Medicare’s general enrollment period Jan. 1-March 31 each year, to enroll. You will receive the Medicare Part B penalty, which is a 10% increase in your Part B premium for each 12-month period that you could have had Part B. Say you wait three years. You will pay a 30% penalty. You will pay this late enrollment penalty for as long as you are on Medicare Part B. But with no Medicare Part B, you will have to pay 100% out of pocket for doctor care, whether for an office visit or surgery, and any outpatient care, including MRIs, radiation, chemotherapy, X-rays, etc.
Readers, please enroll in Part B at the right time! Don’t wait to enroll when you are past 65 and not working full-time with employer benefits, or you will pay the price.
2. What if I am past 65, am retiring with employer health insurance and need to enroll in Medicare Part B? What do I do?