Medicare Calculators
Medicare Enrollment Calculator
Calculate your Medicare Initial Enrollment Period
Definition of Initial Enrollment Period: A 7-month window in which you should enroll in Part A and Part B to avoid late enrollment penalties.
Medicare IRMAA Calculator
As stated before, IRMAA is based on your tax return from two years before. The Social Security Administration looks back, usually at the beginning of each year. This helps ensure that your Medicare premiums align with your most recent income.
Part B Late Enrollment Penalty Calculator
Will I have to pay a Part B Penalty?
If you failed to sign up for Medicare when you were first eligible, and you didn’t have any creditable coverage, you will be subject to the Medicare Part B late enrollment penalty. This penalty is equal to 10% for every year (12 full months) that you waited to enroll, and is added to your monthly premium. This penalty gets applied against the standard Part B premium.
Keep in mind that the national Part B premium may change each year.
Part D Late Enrollment Penalty Calculator
Will I have to pay a Part D Penalty?
If, after your Initial Enrollment Period ends, there is a period of 63 or more days in a row where you don’t have Medicare drug coverage or other creditable coverage, you may have to pay a Part D Late Enrollment Penalty. This is an amount that is permanently added to your Medicare Part D premium each month.
Keep in mind that the national base Part D premium may change each year.
