Delaying Medicare sign-up can be a costly lifetime mistake

Part of the problem is the complexity of the enrollment rules. — Reuters

MARIAN Leonard filed for Social Security when she turned 65. She did not sign up for Medicare at the same time, because she could not afford to pay the monthly premiums. But that was a costly mistake that serves as a warning to anyone navigating the transition to retirement.

She signed up for Medicare four years later – only to learn that the delay would cost her dearly. Leonard would be paying about 40% more in premiums for Part B (outpatient services) because she failed to enroll at age 65. What’s more, she would be paying this penalty for the rest of her life.“I’m being penalised for having been too poor to afford Medicare,” said Leonard, who lives in eastern Pennsylvania.