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By Reg Jones

Medicare Part B penalty

December 23rd, 2010 | Coverage after retirement FEHBP HEALTH INSURANCE Medicare

Q: I am retiring at the end of December and have already reached age 65. I have signed up for Social Security benefits starting in January. I also signed up for Medicare Part A coverage but not Part B coverage, as suggested at a retirement seminar. I am carrying over my Federal Employees Health Benefits coverage. I checked with my plan and they said I would not need Medicare Part B. If I decide to switch plans in the future and my new insurer suggests that I need Part B coverage, will I be penalized with the 10 percent per year penalty when I sign up?

A: Yes, you would be penalized.

Tags: Federal Employees Health Benefits, FEHB, FEHBP, health care, Medicare Part B, Part B, Part B penalty

FedLine Home | Permalink | December 23rd, 2010

Comments

Camille Says:
August 7th, 2011 at 3:19 pm
If your plans are qualified plans, then you will not be penalized the 10 percent(s) by Part B. You should find the statement of qualifying plan in your Plan brochure.