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Most people don’t pay a premium for Part A, but you do pay a monthly premium for Part B.The penalty goes up the longer you wait to sign up. You might also pay a monthly penalty for as long as you have Part B. If you don’t sign up for Part B when you’re first eligible, you might have to wait to sign up and go months without coverage. You’ll need to fill out an extra form showing you had job-based health coverage while you or your spouse were working. Your coverage will start the month after Social Security (or the Railroad Retirement Board) gets your completed forms.You can sign up anytime while you or your spouse are still working for that employer, or up to 8 months after you or your spouse stop working, or the job-based coverage ends, whichever happens first.What if I have a Health Savings Account (HSA)? Generally, you’re first eligible to sign up for Part A and Part B starting 3 months before you turn 65 and ending 3 months after the month you turn 65.īecause the company has less than 20 employees, your job-based coverage might not pay for health services if you don’t have both Part A and Part B. Your answer Check with the employer that provides your health insurance about signing up when you’re first eligible for: Your past employer may offer coverage that works with Medicare.If you sign up during this 8-month period, your Part B coverage will start the month after Social Security (or the Railroad Retirement Board) gets your completed forms.If you want more coverage, you have a limited time to get it.Your coverage will start the month after Social Security (or the Railroad Retirement Board) gets your completed forms. If you want Medicare coverage to start when your job-based health insurance ends, you need to sign up for Part B the month before you or your spouse plan to retire.If you lose your job-based health coverage before you or your spouse stop working, you have 8 months to sign up.Your 8-month Special Enrollment Period to sign up for Part B starts when you stop working, even if you choose.How much is the Part B late enrollment penalty? , you’ll have to wait to sign up and go months without coverage.