Are you navigating the complexities of Medicare and aiming to dodge the dreaded penalties? In this essential YouTube video, we break down everything you need to know about Medicare penalties, including Part A, Part B, and Part D penalties.

00:00 - 00:32 - Introduction
00:33 - 01:07 - Overview of Medicare Penalties
01:08 - 06:00 - Medicare Part A Penalty
06:01 - 15:00 - Medicare Part B Penalty
15:01 - 23:45 - Medicare Part D Penalty
23:46 - 24:40 - Conclusion

In addition to giving an overview of the penalties, we will help you understand the critical timelines for enrollment, the significance of 'premium-free' Part A, and how missing your Initial Enrollment Period can lead to increased monthly premiums that could last a lifetime. We also dive into the calculation of these penalties, providing clear examples and explaining how to check your work credits (QC's) for Part A eligibility or potentially qualify through a spouse's work history.

But it doesn't end there. Our video is packed with actionable advice on how to avoid these penalties, emphasizing the importance of enrolling on time or ensuring you have creditable coverage to postpone enrollment without penalty. We tackle common misconceptions and provide clarity on exemptions and appeal processes for those who've received penalty notices.

Whether you're just turning 65 or considering changing your Medicare coverage, our video is designed to empower you with the knowledge to make informed decisions. Avoid unnecessary costs and ensure your transition to Medicare is as smooth and penalty-free as possible.

Don't forget you can now also join our FREE online course, where you can learn about hundreds of Medicare topics at your own pace and in the comfort of your home. You can find this course here: https://www.gmedcourse.com/

Video Sources:

2024 Medicare Part A Costs: https://www.cms.gov/newsroom/fact-she...

Explaining Part A Penalty: https://www.medicare.gov/basics/costs....

Eligibility for Premium Free Part A: https://www.medicareinteractive.org/g...

Medicare Qualified Government Employee: https://www.ssa.gov/slge/mand_med_cov...

More Part A penalty info: https://www.cms.gov/medicare/enrollme...

Medicare Savings Progam from Social Security: https://secure.ssa.gov/poms.nsf/lnx/0...

Medicare and You Handbook 2024: https://www.medicare.gov/Pubs/pdf/100...

Medicare Savings Programs Qualification Information: https://www.medicare.gov/medicare-sav...

Report on the number of people paying Part B penalty: https://crsreports.congress.gov/produ...

New Part B Special Enrollment Periods: https://www.medicareinteractive.org/g...

SSA info about Part B Special Enrollment Periods: https://www.ssa.gov/pubs/EN-05-10012.pdf

Equitable relief information: https://www.medicareinteractive.org/g...

Part B penalty when turning 65: https://secure.ssa.gov/poms.nsf/lnx/0...

MedPAC report on the number of people paying Part D penalty: https://www.medpac.gov/wp-content/upl...

Medicare Part D Penalty: https://www.medicare.gov/drug-coverag...

What is Creditable Coverage?: https://www.cms.gov/medicare/employer...

Types of Part D creditable coverage: https://www.law.cornell.edu/cfr/text/...

Appealing Part D penalty: https://www.cms.gov/medicare/appeals-...

Part D penalty appeal statistics: https://www.cms.gov/medicare/appeals-...

Extra Help Information: https://www.medicare.gov/basics/costs...

KFF Part D Landscape: https://www.kff.org/medicare/issue-br...