Medicare Penalty Calculator
Are you concerned about potential late enrollment penalties for Medicare Part B or Part D? Use our free calculator to estimate your potential penalties and understand the long-term financial impact of delaying enrollment.
Why Late Enrollment Penalties Matter
Medicare late enrollment penalties are permanent surcharges added to your monthly premiums if you don’t enroll when you’re first eligible. These penalties last for as long as you have Medicare coverage, potentially costing you thousands of dollars over your lifetime.
What Our Calculator Shows You:
- Part B Penalty: Calculate the 10% penalty for each 12-month period you delayed enrollment
- Part D Penalty: Estimate your prescription drug coverage late enrollment penalty
- Lifetime Cost: See the total amount you’ll pay over your expected Medicare lifetime
- Comparison: Understand how much you could save by enrolling on time
Unlock This Free Tool
To access this free calculator and receive valuable Medicare tips and updates, please enter your name and email address below.
We respect your privacy. Unsubscribe anytime.
Medicare Penalty Calculator
Calculate your potential late enrollment penalties and understand the long-term financial impact
Calculate Your Penalty
Enter your information below to estimate your Medicare Part B late enrollment penalty
Your Monthly Part B Penalty
Added to your standard Part B premium
This penalty is permanent and will be added to your Part B premium for as long as you have Medicare coverage. The penalty continues even if premium rates change in future years.
Understanding Medicare Late Enrollment Penalties
When Do Penalties Apply?
If you don’t sign up for Medicare Part B when you’re first eligible, you may have to pay a late enrollment penalty for as long as you have Part B coverage. Your monthly premium may go up 10% for each full 12-month period that you could have had Part B but didn’t sign up.
Exceptions to the Penalty
You won’t have to pay a penalty if you qualify for a Special Enrollment Period (SEP), such as when you or your spouse are still working and covered by an employer group health plan based on current employment.
How to Avoid Penalties
Enroll during your Initial Enrollment Period (3 months before your 65th birthday month, your birthday month, and 3 months after) or during a qualifying Special Enrollment Period.
How the Penalty is Calculated
The penalty is 10% of the standard Part B premium for each full 12-month period you were eligible but didn’t enroll. For example, if you were 2 years late, your penalty would be 20% of the standard premium, added to your monthly payment permanently.