Vlogmas #8 - Medicare's Late Enrollment Penalty - The LEP

The cost of the late enrollment penalty depends on how long you went without Part D or creditable prescription drug coverage.

Medicare calculates the penalty by multiplying 1% of the "national base beneficiary premium" ($33.13 in 2015, $34.10 in 2016) times the number of full, uncovered months you didn't have Part D or creditable coverage. The monthly premium is rounded to the nearest $.10 and added to your monthly Part D premium.

The national base beneficiary premium may increase each year,...

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From: JustJimmie

Related topics : part b medicare late enrollment penalty / medicare part d creditable coverage calculator / medicare prescription drug coverage part / medicare part b monthly premium / medicare part b premium calculation