[Adirondackian]

Yes. I was told that there is a permanent penalty for failing to sign up of 1% per month. A friend told me of a guy who didn't feel he needed medicare so he didn't sign up for 3 years. He now has a 36% penalty each month.

I would definitely check to see if your current insurance satisfies their exceptions AND get it writing. You could look on the medicare site to get you started.

I dont understand .....they take the penalty out of what? The guy had 36% "penalty" applied to what?

"Technically it is not mandatory. HOWEVER, if you do not sign up when you are first eligible, the PTB ding you for an extra 10% for every year you don't sign up. And that is a forever ding"


Ding you, how?

 

[Adirondackian]

It means they charge you that penalty (or ding) extra every month above and beyond what you would normally pay for Medicare premiums.
So, instead of the $170 every month they take out of your SS, it would be 36% more than that. EVERY month till you die. It's a scam.

What if you dont get social security?

 

[Adirondackian]

I am in that situation right now. I have been on disability a few years and already negotiated the Medicare mess.

Once you turn 65, or you have been on disability long enough to get Medicare you must sign up for part A. When I had to do it I was able to find the part where part A is required but I don't have that in front of me right now. Part A doesn't cost anything but it automatically becomes your primary HOSPITALIZATION coverage.

Part B, C, D and whatever other letters they use is not mandatory as long as you have equitable coverage. If you have insurance through your employer, a severance package or a spouse's employer you do not need to sign up for other Medicare letters. If you do not have other equitable coverage after you become eligible for part B and a prescription plan, you will be penalized according to however long you have gone without coverage. You will pay the penalty forever after. If you are hospitalized after becoming Medicare eligible, part A is your primary insurance. Anything not covered will be submitted to your other insurance which is your secondary insurance.

I'll see if I can find the information later.

Penalized as in they send you a bill in the mail which you have to pay on threat of further action? Freeze your accounts, put a lien on your house, auction it off and leave you homeless in the street?


PS; OK I did some research because there seems to be some confusion here. You are not mandated to sign up for any part of medicare according to what I read. If you LATER attempt to sign up, you will have to pay a penalty [ I E a higher premium ].

If you collect social security, they may automatically enroll you in part A and if there is a premium, they'll take it out of your monthly check.