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Part B Late Enrollment Penalty
If you don't sign up for Part B when you're first eligible or if you drop Part B and then get it later, you may have to pay a late enrollment penalty for as long as you have Medicare. Your monthly premium for Part B may go up 10% for each full 12-month period that you could have had Part B, but didn't sign up for it.
Part D Late Enrollment Penalty
This may apply if you don’t have creditable drug coverage when:
Your Initial Enrollment Period is over.
There’s a period of 60 days or more in a row when you don’t have Part D or other creditable prescription drug coverage.
Note: If you get Extra Help, you don’t pay a Part D late enrollment penalty.
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