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OnlyA trip to the doctor Can cost thousands of people, which is why most American adults have a strong impact on health insurance. According to the Congress Research Service (CRS), 90.8% of the people of the country hadType of health insurance In 2019. But even with this coverage, a number of errors can access more costs to your end, not to check your medical invoice for billing errors or accidentally go to an off-grid provider. Now the experts warn an expensive error with Medicare, you will want to be sure to avoid. Read on to learn more about this error too common.

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People from all over the country are eligible to beinsured under Medicare Once they are 65 years old. According to the health insurance program, you have a seven-month initial registration period to register, which starts three months before the month you reached 65 years old and ends three months after - unless you qualify for a Special schooling period. Meanwhile, two basic parts can generally register for: Part A, which is hospital coverage and Part B, which is a coverage of ambulatory care.

"Medicare is for seniors aged 65 and over and those with special conditions or disability," says the program. "If you are a US citizen or experience the requirements of the legitimate presence and the residence, the initial registration period (IEP) is your first chance to register for Medicare."

Danielle Roberts, co-founder of the Boomer Insurance Company benefits, told CNBC thatMiss this registration deadline is one of the most expensive mistakes of Medicare that people can do. According to Medicare, IEP is missing means that you have to pay a late enrollment penalty overYour normal premium. The standard premium of Part A can cost you between $ 259 and up to $ 471 a month, and the amount of the standard premium of Part B is $ 148.50, but it may be higher depending on your income.

TheLate penalty for part A An increase in the monthly premium is greater than 10% and you will have to pay the higher premium for twice as many years you have not registered. So, if you waited two years to sign up for Medicare when you were eligible, you will pay a higher premium for four years. For Part B, this penaltycan last a life. Your monthly premium could increase by 10% for each 12 months period that you were eligible for Part B but not registered.

"In most cases, you will have to pay this penalty whenever you pay your bonuses, as long as you have Part B. and the penalty increases longer than you go without Part B," the program states.

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If you miss the IEP that ends three months after your 65th anniversary, you may also have to wait to register. Medicare allows late registrations during the general registration period, which only occurs between January 1 and March 31 of each year. But when you sign up for this period, your health insurance will not start immediately. After paying your bonuses, your coverage begins on July 1st. So, if you encounter health problems at this gap in your blanket, you could be responsible for paying even more money.

There are always exceptions to the rules. Once your IEP ends, you may be able to sign up for Medicare during a special registration period and "generally you do not pay a late enrollment penalty if you register for a special registration period", declares the program. If you or your spouse work and covered by a group health plan via your employer or union, you are eligible to register for part A and Part B at any time, not only during the seven months. This also guarantees you a longer eight month registration period that starts either the month after the end of your job or the month following the end of your group's health insurance, that we occur first of all.

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