The short answer is yes, you can generally enroll in Medicare Part B anytime after you’re first eligible. However, in most cases there will be a premium penalty if you don’t sign up when you’re first eligible.
When Are You First Eligible for Medicare Part B?
You first become eligible to enroll in Medicare Part B during your Initial Enrollment Period (IEP). For most people, this is the 7-month period that begins 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65.
For example, if your 65th birthday is in June, your IEP runs from March 1 through September 30. You can sign up for Part B anytime during those 7 months.
What Happens If You Don’t Enroll During Your IEP?
If you don’t sign up for Part B when you’re first eligible, you’ll have to wait for a General Enrollment Period (GEP) to apply. The GEP runs from January 1 through March 31 each year, with coverage beginning the following July 1.
However, in most cases if you don’t enroll during your IEP, you’ll have to pay a late enrollment penalty. This penalty is 10% of the standard Part B premium for each 12-month period that you delayed enrolling. You’ll have to pay this penalty each month for as long as you have Part B coverage.
Are There Exceptions to the Late Enrollment Penalty?
There are a few situations where you can enroll late and avoid the penalty:
- You’re still covered under a group health plan through your own or your spouse’s current employment. In this case, you have a Special Enrollment Period to sign up any time while you have group health coverage or during the 8 months after the coverage ends or employment terminates (whichever comes first).
- You’re covered under COBRA from a previous employer. The Special Enrollment Period applies as long as your COBRA coverage lasts or for the 8 months after it ends, whichever comes first.
- You live outside the United States. You can enroll any time while living abroad or during a 6-month period after you return to the U.S.
- You’re eligible for Medicare before age 65 due to a disability. Your IEP depends on when you first collect Social Security disability benefits.
If none of these exceptions apply to you, you’ll generally get hit with the late enrollment penalty if you don’t sign up during your initial 7-month enrollment window when you turn 65.
When Does Medicare Part B Coverage Begin?
When your Part B coverage starts depends on when you enroll:
- If you enroll during your IEP, coverage starts the month you turn 65.
- If you enroll during a GEP, coverage starts July 1 of that year.
- If you qualify for a Special Enrollment Period, coverage starts the first month after you enroll.
How Do I Actually Sign Up for Medicare Part B?
You can apply for Medicare Part B in any of these ways:
- Online at www.ssa.gov/medicare. You can complete the application through your My Social Security account.
- By phone at 1-800-772-1213. Call the Social Security Administration and speak to a representative.
- In person at your local Social Security office.
No matter how you apply, you’ll need to provide your Medicare number or Social Security number. If you’re applying for the first time when you turn 65, you can apply for both Medicare and Social Security at the same time.
How Much Does Medicare Part B Cost?
Medicare Part B has a standard monthly premium that most enrollees pay. However, high-income enrollees pay more based on their income. Here are the standard and high-income premium amounts for 2023:
| Individual Tax Return Income | Married Filing Jointly Income | 2023 Part B Monthly Premium |
|---|---|---|
| $97,000 or less | $194,000 or less | $164.90 |
| $97,001 – $123,000 | $194,001 – $246,000 | $230.80 |
| $123,001 – $153,000 | $246,001 – $306,000 | $297.00 |
| $153,001 – $183,000 | $306,001 – $366,000 | $363.20 |
| $183,001 – $499,999 | $366,001 – $749,999 | $429.40 |
| $500,000 and above | $750,000 and above | $504.90 |
In addition to the monthly premium, you must pay the annual Medicare Part B deductible before coverage kicks in. The 2023 Part B deductible is $226.
Should You Enroll in Medicare Part B?
Medicare Part B covers doctor visits, preventive care, lab tests, durable medical equipment, and other outpatient services. For most people, it makes sense to enroll in Part B to have this coverage.
You may want to delay Part B enrollment if:
- You or your spouse is still working and you have group health insurance through that employer. In this case, the group plan would be your primary payer and Medicare would be secondary.
- You have VA benefits or affordable alternative coverage like a retiree health plan that meets your needs. However, make sure this coverage is considered “creditable” by Medicare to avoid penalties down the road.
These are about the only situations where you may want to put off Part B enrollment. For most others, it’s worth paying the premium to gain access to important medical coverage.
Key Points
- You’re first eligible to enroll in Medicare Part B during your 7-month Initial Enrollment Period around your 65th birthday.
- Enrolling late will trigger a 10% premium penalty for each 12-month period you delayed, unless you have creditable coverage.
- You can enroll online, by phone, or in person through Social Security.
- Coverage generally begins the month you turn 65 if you enroll on time.
- The standard premium for Part B is $164.90/month in 2023, with high earners paying more.
- You should sign up for Part B as soon as you’re eligible unless you have other solid coverage.
Conclusion
While you can generally enroll in Medicare Part B at any time after you’re first eligible, it pays to sign up early to avoid premium penalties. Unless you have qualifying creditable coverage, you should enroll in Part B during your Initial Enrollment Period when you first turn 65 to gain access to important medical benefits and prevent gaps in insurance.