[Zeke]

Originally Posted by fintstone

Part A is generally free for most people because you worked and paid Medicare taxes (at least 10 years usually). If not, you must buy part A (either $278 or $506 each month based on how long you paid Medicare Taxes) when first eligible (most people at 65) or pay a penalty if you sign up later (10% for each year you wait).

If you buy Part A, you must also sign up for Part B. Part B is what most people pay for. If you are drawing SS, it can come out of your SS payment. The cost of Part B is dependent upon income. It might be anywhere from $164.90 to $560.50 per person, per month based on your adjusted gross income (AGI). If your AGI goes up or down on your tax return, the cost for Part B does the same the following year. Part B also has a late enrollment penalty of 10% per year.

One can get around the penalty if you or your spouse is still covered by an employer, and you sign up within 8mths of ending that employment insurance.

COBRA fits in here somewhere.