Is there a penalty for signing up for Medicare late?

Yes, and it stays with you. Part D adds 1% of the national base premium ($38.99 in 2026) for each month you went without drug coverage, for as long as you have Part D. Part B adds 10% to your premium for each full 12 months you waited. • Example: a 24-month Part D gap adds about $9.40 a month in 2026, for life • Example: waiting 24 months on Part B means a premium 20% higher

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Here's how it adds up. Say you turned 65 two years ago, had no job coverage, and skipped both Part B and Part D. Both penalties get added to your regular premiums, and they don't go away.

There's also a timing problem. If you missed your first window, you generally can sign up for Part B only from January 1 to March 31, and coverage starts the month after you sign up. That can mean months without medical coverage.

Mistakes I see: • Skipping Part D because you take no medicines today • Assuming any coverage counts. COBRA, retiree, VA and Marketplace plans don't count as current job coverage for delaying Part B • Throwing away the yearly notice that says your drug coverage is creditable

The good news: you may avoid a penalty if you qualify for a Special Enrollment Period, join a Medicare Savings Program (for Part B), or get Extra Help (for Part D).

If you think you may have a gap, reach out and I'll help you sort out your options.