Yes, you can delay Medicare Part B if you have qualifying coverage, like through your own job or a spouse's job, at a company with 20 or more employees, allowing you to avoid penalties and have your employer plan pay primary. However, if your employer has fewer than 20 employees, Medicare becomes primary, and you must enroll in Part B to avoid gaps in coverage. If you delay and don't qualify for a Special Enrollment Period (SEP), you'll face a permanent late enrollment penalty.
Part B late enrollment penalty
Generally, you won't have to pay a Part B penalty if you qualify for a Special Enrollment Period, or you enroll in a Medicare Savings Program. Learn more about Special Enrollment Periods. You'll pay an extra 10% for each year you could have signed up for Part B, but didn't.
You'll have a few options. You can stick with Medicare, or you might choose to enroll in your employer's group plan and keep Medicare at the same time. Or, depending on the size of the company you work for, you might drop Medicare Part B and/or Part D entirely once you're covered under your employer's plan.
You generally have two options. You can choose to have both employer insurance and Medicare Part B coverage at the same time. Or, you can choose to delay your enrollment in Medicare Part B and continue with just your employer coverage.
If you've been covered by an active employer group health plan (either yours or your spouse's) since turning 65, and it ended within the last 8 months, you can enroll in Part B without any penalty. This is considered a “Special Enrollment Period.”
You can avoid paying Medicare Part B premiums by delaying enrollment if you have creditable employer coverage (your own or spouse's job with 20+ employees) until that coverage ends (within 8 months to avoid penalties), or by qualifying for a Medicare Savings Program (MSP) to have state/federal funds pay for it due to low income. Other ways to save include using HSA funds, appealing high Income-Related Monthly Adjustment Amounts (IRMAA) for life changes, or enrolling on time during your Initial Enrollment Period.
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This is unique for every plan, but generally speaking, Medicare tends to provide more benefits than employer coverage at a lower cost. If you have a high-premium or high-deductible plan through your employer (or your spouse's employer), switching to Medicare may be more cost-effective.
People leave Medicare Advantage (MA) plans due to difficulty accessing needed care (especially with worsening health), restrictive provider networks, complex prior authorization rules, and dissatisfaction with care quality, often feeling trapped as their health needs grow despite initial low costs and extra perks that become limiting. Issues with provider availability, network changes, and sometimes misleading marketing also drive disenrollment, pushing people back to Traditional Medicare for greater freedom, notes KFF.
Am I required to enroll in Medicare Part B if I work past 65? You may be required to get Medicare Part B even when you're still working. There are situations in which you won't qualify for a Special Enrollment Period and therefore cannot delay enrolling without incurring late-enrollment penalties.
How do I terminate my Medicare Part B (medical insurance)? You can voluntarily terminate your Medicare Part B (Medical Insurance). However, you may need to have a personal interview with us to review the risks of dropping coverage and for assistance with your request.
Part B (Medical Insurance) costs. $202.90 each month (or higher depending on your income). The amount can change each year. You'll pay the premium each month, even if you don't get any Part B-covered services.
In 2025, the standard Medicare Part B premium is $185 per month, with an annual deductible of $257, though higher-income earners pay more (Income-Related Monthly Adjustment Amount or IRMAA), and some with Social Security benefits pay less due to the "hold harmless" rule.
Generally, you're first eligible to sign up for Part A and Part B starting 3 months before you turn 65 and ending 3 months after the month you turn 65. (You may be eligible for Medicare earlier, if you get disability benefits from Social Security or the Railroad Retirement Board.)
The processing time for Medicare Part B applications typically ranges from one to three months, starting when the Social Security Administration receives your application. It's best to apply as early as possible, especially if you're nearing your 65th birthday or the end of your Initial Enrollment Period.
If you can't afford Medicare Part B, you should immediately contact your State Medical Assistance (Medicaid) office to apply for a Medicare Savings Program (MSP), which can pay your Part B premiums and other costs if you have low income/resources, or explore options like Supplemental Security Income (SSI), or even look into Medicaid itself for comprehensive help, as delaying Part B can lead to lifetime penalties.
Each fall, when we ask the IRS for information to determine next year's premiums, we ask for tax information to verify your reports of changes affecting your income-related monthly adjustment amounts, if any. We also ask the IRS for your two-year-old MAGI if we've temporarily used three-year-old MAGI.
There isn't a single Medicare bank account limit; instead, asset limits apply to Medicare Savings Programs (MSPs), which help low-income individuals pay for Medicare costs, with 2025 limits around $9,660 for individuals and $14,470 for couples for programs like QMB, SLMB, and QI, but some states (like California and Oregon) have eliminated asset tests or have higher limits, and the QDWI program for working disabled individuals has different limits.
Medicare rules allow you to delay enrollment in Medicare Part B and/or D when you are covered by an employer group health plan, regardless of the number of covered employees, if your health coverage is based on your or your spouse's current, active employment.
Starting in 2025, there is an annual limit on what you pay out-of-pocket for prescription medications through Medicare and Medicare Advantage prescription drug plans. All prescription medications, including specialty medications, covered by Part D plans are included under this cap.
The best people to talk to about Medicare are your local State Health Insurance Assistance Program (SHIP) (for free, unbiased advice) or your specific Medicare plan's customer service (for plan-specific questions). For enrollment, contact the Social Security Administration (SSA), while independent brokers can compare plans, and organizations like the NCOA or AARP offer resources and tools.