If Individuals Do Not Sign Up for Medicare Part B

question 102

True/False

If individuals do not sign up for Medicare Part B when first becoming eligible and later decide to enroll,the monthly premiums may be higher due to penalties.

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Definitions:

Wholesale Price

The cost at which goods are sold to retailers by manufacturers or distributors before any retail markup.

Retail Price

The cost at which an item is sold to the general public by retailers.

Mark-up on Cost

The percent increase applied to the goods' cost price to cover overhead expenses and profit.

London Drugs

A Canadian retail store chain specializing in pharmaceuticals, electronics, cosmetics, and a range of household goods.