I received 100 P&T in 2003 from VA then in 2004 I started receiving SSDI but turned down the Part B since I was fully covered through the VA. Now that I'm being retired doesn't Tricare require I choose Part B and since I declined Part B in 2004, does that mean I'm going to be penalized for the 18 years I didn't have it? Thanks ahead of time. Take care.
How is the Medicare Part B premium penalty figured?
- Thread starter OIF1MP
- Start date
Part B late enrollment penalty
If you didn't get Part B when you're first eligible, your monthly premium may go up 10% for each 12-month period you could've had Part B, but didn't sign up. In most cases, you'll have to pay this penalty each time you pay your premiums, for as long as you have Part B. And, the penalty increases the longer you go without Part B coverage.
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. Read more about different situations that may affect when you decide to get Part B.
If you have limited income and resources, your state may help you pay for Part A, and/or Part B. You may also qualify for Extra Help to pay for your Medicare prescription drug coverage.
example:
Your Initial Enrollment Period ended December 2016. You waited to sign up for Part B until March 2019 during the General Enrollment Period. Your coverage starts July 1, 2019. Your Part B premium penalty is 20% of the standard premium, and you’ll have to pay this penalty for as long as you have Part B. (Even though you weren't covered a total of 27 months, this included only 2 full 12-month periods.)
A lot of people just skip the part B and use VA. This is fine as long as they are treating you well and not trying to lower your ratings. They can also refer out to civilian care through the Choice program but there is no guarantee that will be the case all of the time.
Actually you lose your Tricare for life if you don't take part B when you are qualified to do so except certain situations explained in the brochure. See this brochure via this link: https://www.tricare.mil/-/media/Files/TRICARE/Publications/BrochuresFlyers/Turning65_Br.pdf
I know the brochures says when turning age 65 but it states that regardless of age you must have part b of Medicare to keep TFL. I have done a lot of research on this since SSDI claimants get Medicare after receiving benefits for 24 months.
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I’m good then my wife is AGR so I use tricare prime remote for now. Just wanna make sure I’m not in for a huge part B bill every month after she retires. I’m also on SSDI.the brochure was super helpful thanks!!
Yep! One of the only exceptions
