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