I am 75 and have lived and worked abroad for 30 years with health coverage from the country I lived in. I enrolled in part A at age 65. Now I want to enroll in Part B. Is there a specific time to enroll? will there be a penalty? How much will it cost?
If you did t enroll in Medicare part D when you first become eligible, then you will have a penality that you must pay every year. The longer you wait..the larger the penality. Again..enrollment is Nov-Dec for a start date January 1
As for the cost. There is a wide array of plans. You need to figure out what deductible you are willing to go with..what co-pay, etc. check with a few insurance companies. The cost will also vary by your current age, and the insurance company.
For example..I have a plan F. No co-pay, no deductibles. With Bankerlife the plan would cost $230 per month. With United health the plan would cost $184 per month. Same coverage. So, shop around.
All that changed in the 1990's when corporations were getting gobbled up by bigger companies and those employees from the smaller companies lost out unless they negotiated items like this pre buy out. Else it just stopped.
The person is indeed lucky if your last employer stills pays something to take care of you after SS kicks in.