Part B Late Enrollment Penalty

[steveadlman]

I have a prospect turning 65 in June. He is 100% disabled and goes to the VA for most of his healthcare. He is dissatisfied with the care he is receiving at the VA. He never took out the Part B when he became eligible for Medicare 13 years ago because he always assumed he would get all of his Medical care at the VA. He now wants to get a Med Supp but I told him he will have to pay a substantial penalty for late enrollment for the Part B. He was upset to learn of that fact and will be checking with Social Security to verify what I told him. My question is did I tell him correctly he will pay a late enrollment penalty for Part B and that being a 100% disabled veteran would not waive the late enrollment penalty for the Part B?

 

[cadylou]

I have a prospect turning 65 in June. He is 100% disabled and goes to the VA for most of his healthcare. He is dissatisfied with the care he is receiving at the VA. He never took out the Part B when he became eligible for Medicare 13 years ago because he always assumed he would get all of his Medical care at the VA. He now wants to get a Med Supp but I told him he will have to pay a substantial penalty for late enrollment for the Part B. He was upset to learn of that fact and will be checking with Social Security to verify what I told him. My question is did I tell him correctly he will pay a late enrollment penalty for Part B and that being a 100% disabled veteran would not waive the late enrollment penalty for the Part B?

When he turns 65, he is in a new open enrollment period and should be able to sign up for Part B at that point without penalty. Advise him to visit a Social Security office or call Medicare directly to enroll.

 

[WCMason]

When he turns 65, he is in a new open enrollment period and should be able to sign up for Part B at that point without penalty. Advise him to visit a Social Security office or call Medicare directly to enroll.

What she said. No penalty for age-ins.

 

[yorkriver1]

I have an add on question. Just talked to a possible future prospect yesterday, while discussing dependent coverage.
Parent has SSDI and just Medicare A, "couldn't afford" Medicare B. So, if the person qualifies for LIS/MSP, does that waive the Part B penalty? In this case it's probably a long time to T65. I didn't ask, but it's possible the parent is in a program for low income at the area teaching hospital. Seemed familiar with their guidelines.
It's probably another thread, but college students home for summer and living one state over have poor choices for IFP while at school, most are HMO's or POS with big OOP for OON. This parent assured me that ER would be fine as the student comes home to see regular physicians.

 

[wehotex]

I have an add on question. Just talked to a possible future prospect yesterday, while discussing dependent coverage.
Parent has SSDI and just Medicare A, "couldn't afford" Medicare B. So, if the person qualifies for LIS/MSP, does that waive the Part B penalty? In this case it's probably a long time to T65. I didn't ask, but it's possible the parent is in a program for low income at the area teaching hospital. Seemed familiar with their guidelines.
It's probably another thread, but college students home for summer and living one state over have poor choices for IFP while at school, most are HMO's or POS with big OOP for OON. This parent assured me that ER would be fine as the student comes home to see regular physicians.

MSP will waive the Part B LEP.