What happens if you opt out of Medicare Part B?

Canceling Part B because you were automatically enrolled But beware: if you opt out of Part B without having creditable coverage—that is, employer-sponsored health insurance from your current job that’s as good or better than Medicare—you could face late-enrollment penalties (LEPs) down the line.

What happens if you don’t sign up for Medicare Part B at 65?

Your current coverage might not pay for health services if you don’t have both Part A and Part B. If you don’t sign up when you turn 65, you’ll have to wait to sign up and go months without coverage. You might also pay a monthly penalty for as long as you have Part B. The penalty goes up the longer you wait to sign up.

Why are there Medicare penalties?

If you don’t have creditable prescription drug coverage when you sign up for Medicare, you could face higher costs later on. Medicare adds a late enrollment penalty to your monthly premium if you don’t have prescription drug coverage and then sign up for Part D later.

Is Medicare Part B optional or mandatory?

Medicare Part B helps cover medical services like doctors’ services, outpatient care, and other medical services that Part A doesn’t cover. Part B is optional. Part B helps pay for covered medical services and items when they are medically necessary.

Can I waive Medicare Part B?

You may refuse Part B without penalty if you have creditable coverage, but you have to do it before your coverage start date. Follow the directions on the back of your Medicare card if you want to refuse Part B.

How do I decline Medicare Part B?

Call the Social Security Administration at 800-772-1213 and ask if you can decline Part B without any penalties. Write down who you spoke with, when you spoke to them and what they said. should write a letter to the Social Security Administration declining Part B.