If You Skip These Medicare Deadlines, It Could Cost You Thousands

Medicare eligibility begins at 65, with key deadlines to avoid penalties. The Initial Enrollment Period (IEP) spans seven months around your 65th birthday; missing it can cause lifetime Part B premium penalties of 10% per year delayed. A Special Enrollment Period (SEP) applies if you had employer coverage. Annual Enrollment (Oct 15-Dec 7) allows changes to Part D or Advantage plans, with penalties for late Part D enrollment. The General Enrollment Period (Jan 1-Mar 31) is a last chance but includes penalties. Meeting deadlines avoids costly lifetime fees.