Florida Life and Health Insurance License Practice Test 2025 - Free Insurance Practice Questions and Study Guide

Question: 1 / 400

What happens if an individual misses the initial enrollment period for Medicare?

They can enroll anytime with a small fee

They may face penalties for late enrollment

If an individual misses the initial enrollment period for Medicare, they may face penalties for late enrollment. The initial enrollment period is a specific window during which eligible individuals can sign up for Medicare Parts A and B without incurring any penalties. If they miss this window, they can still enroll in future periods, specifically the general enrollment period, which occurs each year from January 1 to March 31. However, when they do enroll late, they are generally subject to a premium penalty that increases the cost of their coverage.

The penalty for late enrollment is calculated based on the number of months an individual goes without coverage after their initial enrollment period. This can lead to higher monthly premiums for the rest of their time on Medicare. Therefore, it's crucial for individuals to be aware of their enrollment periods to avoid these additional costs.

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They must wait for the next calendar year

They lose eligibility for Medicare coverage

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