Medicare Part B
Medical insurance covering physician services, outpatient care, durable medical equipment, and preventive services, requiring a monthly premium and an annual deductible with 20 percent coinsurance.
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Practice This Concept
Maria delays enrolling in Medicare Part B for 24 months after her Initial Enrollment Period ends, without other creditable coverage. When she enrolls, her Part B premium will be:
Increased by 10% for each 12-month period she was late, and the surcharge is permanent — The Part B late-enrollment penalty is a 10% increase in the monthly premium for each full 12-month period the beneficiary was eligible for Part B but did not enroll and had no other creditable coverage. The penalty is permanent: it applies for as long as the person has Part B. Maria's 24-month delay equals two 12-month periods, so her premium is permanently increased by 20%. The penalty is added to the standard premium and does not expire after a set number of years.
National insurance concept
A person continues working past age 65 and remains covered by the employer's group health plan. To enroll in Medicare Part B without a late penalty, the person may use the Special Enrollment Period (SEP), which lasts:
8 months, beginning when the employer group coverage ends or employment stops — The Part B Special Enrollment Period is an 8-month window that begins when the employer's group health coverage ends or when the person stops working — whichever comes first — and permits enrollment without a late penalty for those who delayed Part B while covered by active group coverage based on current employment. This SEP is separate from the 7-month Initial Enrollment Period around the 65th birthday and from the annual General Enrollment Period. The working-beneficiary SEP is the relief valve that keeps employees from paying penalties while they stay on employer coverage past 65.
National insurance concept
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- Medical ExpenseWhich statement correctly describes Medicare Part B premiums?
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