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