Consequences of Not Signing Up For Medicare
If you decide not to enroll or you delay your enrollment into Medicare part A or B, you may suffer the following consequences. For part A, your monthly premium [6] will increase by 10% and it will be paid for twice the number of times you decided not to enroll starting from the period you became eligible. For part B, your monthly premium increases by 10% yearly starting from your initial enrollment period. These penalties can be avoided if you register for them during the special enrollment period. This period occurs for a limited time. Enrollment during this period prevents you from paying a fine despite the delay.
Medicare Part C & D are not really mandatory and they do not attract punishment when you fail to sign up for them. However, you face some consequences when you apply late for them, especially part D. For part D, you will be asked to pay 1% of the national base beneficiary premium multiplied by the number of months you went without registering for the plan.