Part B Late Enrollment Penalty Clock

The Part B Late Enrollment Penalty. It’s important to know when your personal clock “starts ticking” and counting the number of months that you didn’t have Part B when you should have. Social Security officials explain that the penalty clock starts ticking at the beginning of the month after your 7-month Initial Enrollment Period (IEP) expires, and shuts off on the final day (March 31) of the annual General Enrollment Period (GEP) in which you sign up for Part B. (Medicare doesn’t impose a penalty until you have gone 12 full months without Part B coverage. The penalty is 10% for “every full 12 months” of no coverage. Examples: 10 months would be no penalty, 13 months would be 10% penalty, 25 months would be 20% penalty, 36 months would be 30% penalty, etc.

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Once you’ve missed your first deadline to enroll in Part B, you can only enroll during the next General Enrollment Period (GEP), which runs from January 1 to March 31 each year. Coverage would begin on the 1st of the month after you enroll. 

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