The penalty of signing up late for Medicare

CS Monitor ^ | 8/19/02 | Guy Halverson

[Tumbleweed_Connection]

Q: When I turned 65, I did not join Medicare. Later on I was encouraged to sign up and did so in 1987. Today, I receive $851 a month in Social Security. But $97 is deducted for Medicare. I am told that includes a penalty and that this deduction will go on forever. Is that correct? I thought I had paid my "dues" all these years for Social Security.

A: Unfortunately, if you do not sign up for Medicare when you turn 65, you can be subject to penalties (surcharges) that will continue over your lifetime. Monthly premiums increase 10 percent for each year that you did not take Medicare after reaching 65.

But there is one important exception: If you continued to work past age 65 and received insurance through an employer-sponsored group health plan, you aren't required to sign up for Medicare until you leave your job. Unless that exemption applies to you, a Social Security spokesperson says, you will continue to pay the surcharge.

[Tumbleweed_Connection]

Add the new Gore Social Security tax and ask yourself why the Leftists are able to win votes on this issue.

[catonsville]

I believe you are penalized 10% of the Medicare monthly amount ( should be about $5.00) for each year you could have signed up for Medicare , but didn't.

This would limit those individuals who were unwilling to pay the monthly Medicare premiums until they really got sick and than joined. The individual in the article must have put off signing up for many years and paying the monthly amounts during that time, if his current premium is that much.

Social Security constantly encourages people to sign up on time and mentions the small penalty in premiums if you don't.
I know these no-signers receive at least two reminders every year after age 65.