8 on Your Side Uncovers Medicare Late Enrollment Fee - 8 News NOW

8 on Your Side Uncovers Medicare Late Enrollment Fee

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LAS VEGAS - If you are nearing the age of 65, you may want to think about signing up for Medicare, even if you don't think you need it.

Most seniors are eligible for Medicare once they turn 65. Some seniors don't feel they need it, because they are still working or have other insurance. While their intentions may be good, they could cost them more money in the long run.

If you wait to sign up for Medicare after you are eligible, you face a penalty. The government will charge you a late enrollment fee for Medicare coverage.

The penalty lasts for life and could go up every year. It's not a flat fee. It's a 10 percent fee in addition to your monthly premium.

8 on Your Side asked the Social Security Administration for an explanation, but the agency declined requests for interviews. A representative referred to the agency's website.

The penalty is how the government tries to encourage people to get coverage if they have not signed up by age 65. In other words, government officials are trying to get people to enroll before there is an urgent need.

If you have a problem you want investigated, contact 8 on Your Side at 702-650-1907.

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