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Part B Late Enrollment Penalty

Medicare Made Easy

Part B Late Enrollment Penalty

Medicare Part B is optional coverage, but most people will choose to enroll during their initial enrollment period. This can be when you turn 65, or under the age of 65 if you’ve been receiving disability payments from Social Security or the Railroad Retirement Board for 24 months. If you don’t enroll in Part B when you first qualify for Medicare, and you do not have other creditable coverage, you may incur a late enrollment penalty that will last during your entire time on Medicare.

Medicare late enrollment penalties are not a one-time fee. You will pay the penalty as it is added to your monthly premiums. In many cases, the penalties can be charged for as long as you have Medicare coverage.

Medicare Part B Late Enrollment Penalty

Contrary to Part A coverage, Part B (medical insurance) has a premium requirement. Everyone must pay a monthly fee for Part B. If you qualify for financial aid via your state government, then the state might cover this cost for you.

The premium penalties for not enrolling in and paying the Part B premium during the proper enrollment period is 10% of the Part B premium due for every full year you missed, paid each month for the rest of your life.

Just like with Medicare Part A, if you qualify for a Special Enrollment Period, then chances are the Part B penalty will be waived.

If you have creditable coverage over age 65, you can choose when to enroll in Part B, creating your own personal Special Enrollment Period.

If you qualify for a Special Enrollment Period, there will be no Part B Penalty. Simply choose the month you wish your Part B to start, and that will be your Special Enrollment Period.


If you waited 2 full years (24 months) to sign up for Part B and didn’t qualify for a Special Enrollment Period, you’ll have to pay a 20% late enrollment penalty (10% for each full 12-month period that you could have signed up), plus the standard Part B monthly premium ($164.90 in 2023).

$164.90 (2023 Part B standard premium)
+ $32.98 (20% [of $164.90] late enrollment penalty)

$197.90 will be your Part B monthly premium for 2023. This amount ($197.88) is rounded to the nearest $.10 and includes the late enrollment penalty.

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Ashford Insurance is an independent health insurance agency specializing in Texas Medicare insurance and has been helping seniors since 2005.  Ashford Insurance is here to help you understand Medicare and health insurance in simple, plain terms that anyone can grasp.  We specialize in assisting folks who are Medicare eligible to learn about the coverage options available through the Medicare Health Insurance Program. 

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