Home/Glossary/Late Enrollment PenaltyGlossary · EnrollmentLate Enrollment PenaltyA permanent premium surcharge added for delaying Medicare enrollment without creditable coverage (Part B: 10% per 12 months; Part D: 1% per month).Related TermsInitial Enrollment Period (IEP)Annual Election Period (AEP)General Enrollment PeriodSpecial Enrollment Period (SEP)Medicare Advantage Open Enrollment (MA-OEP)SHIPCOBRAEmployer Group Health Plan← Back to glossary index