Avoiding Late Enrollment Penalties If You Are Retiring After 65

If you plan to retire after age 65 and receive health insurance through your employer, you can enroll in Medicare without paying the late enrollment penalties.

What are the Medicare late enrollment penalties?

When is my Special Enrollment Period?

Avoiding Late Fees

Late enrollment penalties are not a one-time late fee. They’re added to your monthly premium, and they are usually charged for as long as you have Medicare — for most people, that means the rest of your life.

Also, late enrollment penalties are based on how long you go without coverage. This means they go up the longer you wait to enroll in Medicare — so it’s important to enroll in Medicare before the end of your Special Enrollment Period.

To avoid the late enrollment penalties, you will need proof that you had health coverage that’s similar in value to Medicare.

As proof, you and your employer will fill out form CMS L564 “Request for Employment Information” as part of your Part A and/or Part B enrollment application.