Question: What is the monthly premium for Medicare Part B for this year?
Answer: For 2026 the amount is $202.90 a month.
Question: I started working and I have employee group insurance coverage; how can I terminate my Medicare Part B (medical insurance)?
Answer: You can voluntarily terminate your Medicare Part B (Medical Insurance). However, you may need to have a personal interview with Social Security to review the risks of dropping coverage and to assist you with your request. To find out more about how to terminate Medicare Part B or to schedule a personal interview, contact us at 1-800-772-1213.
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Question: What are Medicare late enrollment penalties?
Answer: In most cases, if you don’t sign up for Medicare when you’re first eligible, you may have to pay a higher monthly premium.
It’s important to sign up for Medicare coverage during your Initial Enrollment Period, unless you have other coverage that’s similar in value to Medicare (like from an employer). If you don’t, you may have to pay an extra amount, called a late enrollment penalty.
Late enrollment penalties are added to your monthly premium. They are not a one-time late fee. Penalties are usually charged for as long as you have that type of coverage (for most people, that’s a lifetime penalty). The Part A penalty is different. Finally, late enrollment penalties go up the longer you wait to sign up – they’re based on how long you go without coverage similar to Medicare.
