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Each year that you do not sign up for Part B, you will be penalized an extra 10% per year. There is also a late penalty for Part D by an extra 1% for each month that you do not sign up for it (or 12% for a whole year) if you either don’t join a Medicare drug plan when you first get Medicare, or go 63 days or more without creditable drug coverage. These charges are added to your monthly premium. These penalties do not go away after paying for a few months; they are lifetime penalties, as long as you are enrolled in Part B and D.
If you first enroll in Medicare and still are working/still covered under a creditable coverage (employer-sponsored insurance), you may qualify for a Special Enrollment Period, allowing you to enroll in Part B or Part D later without penalty.
If you qualify for Extra Help with Medicare costs, the Part D penalty may be cancelled. If you think it was incorrectly applied or miscalculated, you can try to appeal it.
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