Your Medicare premiums could spike if you miss this

A lesser‑known Medicare deadline can trigger higher monthly premiums if you miss it. We explain which date to watch and how to avoid paying more.

Signing up for Medicare is something many older Americans rush to do as soon as they're able to. But you may have your reasons for delaying your Medicare enrollment. Unfortunately, they may come back to haunt you.

Not only does waiting too long to sign up for Medicare put you at risk of a gap in health insurance coverage, but it could also mean getting stuck with more expensive premiums for life. Let's review how Medicare enrollment works so you don't fall into that trap.

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Your initial Medicare enrollment window spans seven months. It begins three months before the month you turn 65 and ends three months after that month.

During that initial enrollment window, you can sign up for Medicare Part A, which covers hospital care, and Part B, which covers outpatient care. You can also choose to enroll in a Medicare Advantage plan or a Part D prescription drug plan to go along with Parts A and B.