Q:

Is there an enrollment fee for joining Medicare?

A:

Quick Answer

No enrollment fees apply for enrolling in Medicare during the regular enrollment period. However, individuals signing up late for any part of the program after the enrollment periods end may incur late enrollment fees, with each part carrying different penalties that can last as long as the enrolled has Medicare.

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Full Answer

Individuals who sign up late for Medicare Part A incur a 10 percent penalty on their premiums for twice the number of years they could have signed up but didn't. If signing up during a special enrollment period after the required dates, this fee may be waived.

Individuals signing up late for Medicare Part B may be subject to 10 percent premium increases for each year they qualified for Medicare but didn't enroll. If individuals wait two years, a 20 percent penalty fee applies to premiums for as long as the recipient has Medicare.

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