Medicare Late Enrollment Penalty Bill
Official: Medicare Economic Security Solutions Act
This bill changes how penalties work for late enrollment in Medicare Part B, making it easier and cheaper for people to enroll. It helps those who had other health coverage by reducing penalties and allowing them to sign up more easily.
Medicare Economic Security Solutions Act This bill modifies provisions relating to enrollment periods for Medicare medical services. Among other things, the bill establishes a late enrollment penalty of 15% of monthly premiums and applies the penalty for a period equal to twice the number of months in each 12-month period during which the individual was not enrolled. Currently, the late enrollment penalty is 10% of monthly premiums for each 12-month period during which the individual was not enrolled, and the penalty continues to apply for as long as the individual is enrolled in Medicare medical services. The bill also expands the special enrollment periods to individuals who have health insurance coverage other than through their employer.
1. This bill limits the late enrollment penalty for Medicare Part B to 15 percent. 2. It also allows the penalty period to be twice the number of months without coverage. 3. The bill excludes certain types of health coverage from counting against the enrollment penalty. 4. It creates a special enrollment period for people whose COBRA or retiree coverage ends. 5. These changes aim to make Medicare enrollment more affordable for individuals.
Seniors and individuals with COBRA, retiree, or veteran health coverage.