The Centers for Medicaid and Medicare Services (CMS) announced that for a limited time it is offering equitable relief to certain Medicare beneficiaries currently enrolled in Medicare Part A and coverage through the individual Marketplace. This relief provides eligible beneficiaries the opportunity to enroll in Medicare Part B without penalty.
Further, CMS is also offering equitable relief to eligible individuals who were dually enrolled in Medicare Part A and coverage through the Marketplace and subsequently enrolled in Medicare Part B with a late enrollment penalty. These people now have an opportunity to request a reduction in their Medicare Part B late enrollment penalty.
Having one’s Part B late enrollment penalty waived provides a significant benefit and savings to qualified beneficiaries. The penalty is 10% of the current Part B premium for every 12-month period that the person delayed enrolling in Part B, and is also imposed for as long as the person has Medicare Part B.
Equitable relief is available now through September 30, 2017, hence it is important to let potentially qualified beneficiaries know about this opportunity as soon as possible.
Please share and see CMS’ recent fact sheet for more information.