When should I enroll in Medicare if I’m turning 65?

You should sign up for Medicare three months before your 65th birthday. Your initial enrollment period lasts seven months: three months before your birthday, your birthday month, and three months after. If you miss this window, you may face penalties. Need help? Call 763.783.4447 for a free Medicare Consult

Penalties for Not Enrolling in Medicare During Your Enrollment Window

If you miss your Medicare Initial Enrollment Period (IEP)—which starts three months before your 65th birthday month and ends three months after—you may face lifetime penalties and higher costs. Here’s what can happen:

🚨 What Happens:

If you don’t enroll in Part B when you’re first eligible and don’t have creditable coverage, you’ll pay a 10% penalty for every 12 months you delay enrollment.
This penalty lasts for the rest of your life.

💰 Example:

If your standard Part B premium is $185.00/month (2025), and you delayed enrollment for 3 years, your penalty would be:

🔹 30% of $185.00 = $55.50 extra per month
🔹 Total New Monthly Premium: $240.50
🔹 Annual Overpayment: $666.00 – every year for life!

2️⃣ Medicare Part A Late Enrollment Penalty (If You Don’t Qualify for Free Part A)

🚨 What Happens:

If you have to pay for Part A and don’t sign up on time, your premium increases by 10% for twice the number of years you delayed enrollment.

💰 Example:

If you delayed for 2 years, you pay 10% more for 4 years.
If your Part A premium is $505/month (2024), the penalty adds $50.50 more per month for 4 years.

3️⃣ Medicare Part D Late Enrollment Penalty

🚨 What Happens:

If you don’t enroll in a Part D prescription drug plan when you’re first eligible (and don’t have other creditable drug coverage), you’ll pay a penalty for every month you were without coverage.
The penalty is 1% of the national base premium per month of delay.

💰 Example:

If the national base premium is $36.78, and you went 20 months without drug coverage:

🔹 20% of $36.78 = $7.36 penalty added to your monthly premium
🔹 This penalty lasts for life.

4️⃣ Gaps in Coverage & Higher Healthcare Costs

If you miss your Medicare window, you may have to wait months before coverage starts.
During this time, you could face high out-of-pocket medical expenses with no insurance.

🚀 How to Avoid These Penalties

✅ Enroll in Medicare during your Initial Enrollment Period (3 months before & after your 65th birthday).
✅ If still working with employer coverage, confirm if it’s “creditable coverage” to avoid penalties.
✅ If you missed your IEP, use the General Enrollment Period (Jan 1 – Mar 31), but coverage won’t start until July, and penalties may apply.

📌 Need help enrolling in Medicare? Call 763.783.4447 or schedule a free consultation today! 🚀