⚠️ Medicare Plans Change Every Year — Are You Getting Everything You’re Owed?

Get Every Medicare Benefit You're Entitled To —
Without the Confusion or Penalties

Medicare has dozens of moving parts. One wrong decision — or missing a deadline — can cost you thousands in permanent penalties and leave you with coverage gaps that last a lifetime.

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Medicare plans change every October 15. Are you still on the best plan available to you? Find out now →

67M+

Americans on Medicare

~$170

Part B monthly premium (adjusted annually)

$2,000

Current Part D drug out-of-pocket cap

10%

Permanent penalty for late Part B enrollment

Understanding Medicare — All the Parts Explained

Click each part to explore what it covers, what it costs, and the penalties for missing enrollment.

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Medicare Part A

Hospital Insurance

$ Usually FREE if you worked 10+ years
◉ What It Covers
  • ✓Inpatient hospital stays
  • ✓Skilled nursing facility care
  • ✓Hospice and home health care
  • ✓Blood transfusions (after first 3 pints)
△ What It Does NOT Cover
  • ✗Long-term custodial care
  • ✗Dental, vision, or hearing
  • ✗Private-duty nursing
⚠️ LATE ENROLLMENT PENALTY

If you don't sign up when eligible and don't have qualifying coverage, you may face a 10% premium surcharge for every 12-month period you delayed.

ⓘ Most people get Part A automatically at 65 if already receiving Social Security.
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Medicare Part B

Medical Insurance

$ ~$170/month (income-based IRMAA surcharges may apply; amount adjusted annually)
◉ What It Covers
  • ✓Doctor visits and outpatient care
  • ✓Preventive services and screenings
  • ✓Durable medical equipment
  • ✓Mental health services
  • ✓Ambulance services
△ What It Does NOT Cover
  • ✗Prescriptions (need Part D)
  • ✗Routine dental, vision, hearing
  • ✗Cosmetic surgery
⚠️ LATE ENROLLMENT PENALTY

Late enrollment triggers a 10% permanent premium increase for each 12-month period you delayed — for life.

ⓘ You have a 7-month Initial Enrollment Period starting 3 months before your 65th birthday.
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Medicare Part C

Medicare Advantage

$ Many plans $0 additional premium (beyond Part B); varies by carrier and region
◉ What It Covers
  • ✓All Part A and Part B benefits
  • ✓Often includes Part D drug coverage
  • ✓Many add dental, vision, hearing
  • ✓Fitness benefits (SilverSneakers, etc.)
  • ✓Transportation and over-the-counter allowances
△ What It Does NOT Cover
  • ✗Out-of-network care may not be covered
  • ✗Prior authorizations often required
  • ✗Plans can change or leave your area
⚠️ LATE ENROLLMENT PENALTY

None specific to Part C — but you must still maintain Part B enrollment.

ⓘ Plans change EVERY YEAR. Always review your Annual Notice of Change (ANOC) during Open Enrollment (Oct 15 – Dec 7).
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Medicare Part D

Prescription Drug Coverage

$ Averages ~$40–$60/month; varies by plan and formulary
◉ What It Covers
  • ✓Brand-name and generic prescriptions
  • ✓Vaccines not covered by Part B
  • ✓Insulin and diabetes supplies (many plans)
△ What It Does NOT Cover
  • ✗Every drug on every plan — formularies vary
  • ✗Off-label drug uses
⚠️ LATE ENROLLMENT PENALTY

1% of the national base premium ($34.70) per month you went without creditable coverage — permanently added to your premium.

ⓘ A new out-of-pocket cap for Part D drugs is now in effect — a major change that could save you thousands. Confirm your plan reflects the current cap.
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Medicare Medigap

Supplement Plans

$ $100–$400+/month depending on plan letter, age, and location
◉ What It Covers
  • ✓Part A coinsurance and hospital costs
  • ✓Part B coinsurance or copayments
  • ✓First 3 pints of blood
  • ✓Part A hospice care coinsurance
  • ✓Foreign travel emergency (Plans C, D, F, G, M, N)
△ What It Does NOT Cover
  • ✗Prescriptions (need separate Part D)
  • ✗Dental, vision, hearing, or long-term care
⚠️ LATE ENROLLMENT PENALTY

Outside of your Open Enrollment period, insurers can medically underwrite — meaning they can deny you or charge more based on health history.

ⓘ Enroll during your Medigap Open Enrollment (6 months starting when you're 65 and enrolled in Part B) to avoid medical underwriting.

The Penalties Are Permanent — And They Add Up Fast

Missing Medicare enrollment windows doesn’t just cost you now — these penalties follow you for the rest of your life.

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Part A

10% surcharge

Twice the # of years you delayed

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Part B

10% per year delayed

Permanent — for life

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Part D

1% per month delayed

Permanent — for life

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IRMAA Surcharge

Up to $443/month extra

Based on income 2 years prior

A 2-year delay in Part B enrollment = 20% higher premium — forever.

On a $174.70/month premium, that’s an extra $35+ per month, $420/year, and $8,400+ over 20 years.

Annual Medicare Updates

Plans Changed Again This Year

Medicare Advantage and Part D plans update their benefits, networks, and premiums every October. Here’s what changes every enrollment period:

Part D out-of-pocket cap now in effect — check if your plan reflects current limits
Medicare Prescription Payment Plan lets you spread drug costs across the year
Part B and Part A premiums and deductibles adjust annually — verify your amounts
IRMAA income thresholds change each year — review if your income has shifted
Many Medicare Advantage plans add or drop benefits every enrollment period
Insulin costs are capped at $35/month for most Part D enrollees
Provider networks and drug formularies change — confirm your doctors and Rx are still covered

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Important Disclaimer: Retirement Income Life is not affiliated with, endorsed by, or a representative of the U.S. Government, the Centers for Medicare & Medicaid Services (CMS), the Social Security Administration (SSA), or any other federal or state government agency. We are an independent insurance brokerage. Medicare information provided on this page is for educational purposes only. Premium amounts, benefits, and plan details are subject to change. Please consult official government resources at Medicare.gov or call 1-800-MEDICARE (1-800-633-4227) for official program information. Not all plans are available in all areas. Individual circumstances vary. Contact a licensed advisor for personalized guidance.