The biggest blunder is not signing up for Medicare when you're supposed to, says one expert. Here's what to know.
Remember that late-enrollment penalties are life-lasting. For Part B, that surcharge is 10% for each 12-month period you could've had it but didn't sign up. For Part D, the penalty is 1% of the base premium multiplied by the number of full, uncovered months you didn't have Part D or creditable coverage.The general rule for workers at companies with at least 20 employees is that you can delay signing up for Medicare until you lose your group insurance .
Also, if you stay with your current coverage and delay all or parts of Medicare, make sure the plan is considered qualifying coverage for both Parts B and D. "I find it is always good to just confirm," said Elizabeth Gavino, founder of Lewin & Gavino and an independent broker and general agent for Medicare plans.
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