![]() While most people pay no premiums for Medicare Part A, you have to meet your deductible before Medicare Part A begins paying benefits. ![]() Only those who pay Medicare Part A premiums will owe this penalty. This penalty will need to be paid for twice the number of years you didn't enroll when you were eligible for coverage. If you miss your Medicare initial enrollment period, you could face a premium penalty equal to 10% of the current Medicare Part A premium. General enrollment runs from January 1 to March 31. If you miss the Medicare initial enrollment period, you can sign up during a general enrollment period each year. This period is called the Medicare initial enrollment period. If you are not automatically enrolled, you must sign up for Medicare Part A during a seven-month period that begins three months before you turn 65 and extends for three months after you turn 65. However, if you didn't pay enough Medicare taxes during the years you were working, you'll have to pay premiums for Medicare Part A. Most seniors do not pay premiums for Medicare Part A coverage. Medicare Part A is available if you are 65 years old and receiving Social Security benefits or Railroad Retirement Benefits, and you'll be signed up automatically. ![]() Medigap plans can pay for additional services that traditional Medicare doesn't cover, or they may provide help paying some of traditional Medicare's coinsurance costs. You can buy Medigap plans along with Medicare Parts A, B and D. Some seniors may want additional health insurance coverage, such as a Medigap plan, to supplement traditional Medicare. In fact, many Medicare Part C plans provide more comprehensive coverage than Parts A and B, which are collectively referred to as traditional Medicare. Insurers providing coverage under Medicare Part C have to comply with certain guidelines and coverage requirements, but they have the flexibility to cover different types of healthcare needs.
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