Medicare Part B Overview
Medicare Part B covers services and supplies considered medically necessary to diagnose or treat a disease or condition. Part B also covers preventive services meant to prevent or detect disease.
If you're collecting Social Security when you turn 65, you're typically enrolled automatically in Part B. If you have deferred Social Security and aren't enrolled in active group coverage, sign up for Part B online or go to your local Social Security office. If you have active group coverage, it’s also common to defer enrollment in Part B to a later date.
If you don't sign up when you're first eligible at age 65, you may be required to wait for the General Enrollment Period (GEP). The GEP is January 1 through March 31 each year. If you enroll during this time, your coverage begins July 1.
In most cases, if you don't sign up for Part B when you're first eligible, you're required to pay a late enrollment penalty. You pay this penalty for as long as you have Part B. Your monthly premium for Part B may go up 10% for each full 12-month period that you could've had Part B, but didn't sign up. Usually, you don't pay a late enrollment penalty if you meet certain conditions that allow you to sign up for Part B during a Special Enrollment Period (SEP). Contact Social Security to find out if this penalty applies to you.
