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Mr. Diaz continued

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Mr. Diaz continued working with his company and was insured under his employer’s group plan until he reached age 68. He has heard that there is a premium penalty for those who did not sign up for Part B when first eligible and wants to know how much he will have to pay. What should you tell him?

a. During the first year, he is covered under Part B, his premiums will be 10% higher than they otherwise would be, after which point they will return to normal.
b. The penalty will be a permanent 10% increase in his Part B premium for every 12-month period that passed during which he could have enrolled and did not.
c. Mr. Diaz will pay a penalty, which will be a flat amount each year, paid during the first month of coverage.
d. Mr. Diaz will not pay any penalty because he had continuous coverage under his employer’s plan.

d. Mr. Diaz will not pay any penalty because he had continuous coverage under his employer’s plan.

If an individual delays enrolling in Medicare Part B because they have creditable coverage through their employer’s group health plan, they will not face a late enrollment penalty. Mr. Diaz continued working and had insurance under his employer’s group plan until he reached age 68. As long as he had continuous creditable coverage, he will not be subject to any penalty when he enrolls in Medicare Part B.

It’s important to note that the late enrollment penalty for Part B applies to those who didn’t have creditable coverage and didn’t enroll during their initial enrollment period or special enrollment period. Since Mr. Diaz maintained creditable coverage through his employer, he can enroll in Part B without facing any penalty.