Most people do not pay a premium for Medicare Part A. If you do have to pay a premium for Part A and you delay enrolling, you may face a late enrollment penalty. The penalty is 10% of the Part A premium for twice the number of years you delayed enrollment.
Key Points
- Most people: no Part A premium (paid Medicare taxes 10+ years)
- Part A late enrollment penalty: 10% of Part A premium
- Penalty duration: twice the number of years you delayed enrollment
- Applies only to people who have to pay a Part A premium
- An independent agent can help you understand Part A enrollment rules