Medicare Part B offers the most comprehensive health benefits but comes with numerous coverage exclusions. Those eligible at 65 must face potential penalties for late enrollment.
It's crucial to sign up for Medicare Part B when first eligible to avoid a steep late enrollment penalty, which can add up to 10% per year.
For those 65 and older, employer size influences Part B enrollment. Workers at companies with under 20 employees generally must enroll in Part B.
In 2023, Medicare Part B premiums reach $164.90 monthly for most, but may significantly increase for high-income individuals due to the IRMAA surcharge.
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