You may not be able to change penalties, but you can avoid them with just a little planning and timing...
Penalty is the amount that someone has to pay in addition to the premium for part B or part D. Part B is a 10% per year penalty of the years that you were eligible for part B and did not sign up for yet. If you don't sign up for part B on time, you will have to wait until the following General Enrollment Period (January 1-March 31) and your effective date will be that following July 1. Yikes! That means if you need to sign up for this benefit... you have a little less than a month. If you need help with this process or if you may have a chance to avoid the penalty, I can help you figure that out.
Part D is another bear :) Part B adds a 1% per month penalty for every month that you do not have part D or other creditable coverage (considered creditable or at least as good part d coverage would be by CMS). This 1% is only applied to the national average premium regardless of the premium that you pay for your part d. The current national average premium for part d is $33.37. If you need help calculating your penalty or appealing a penalty we may be able to help you. Remember that penalties with Medicare are usually permanent. In my experience it is way easier to AVOID penalties than to APPEAL them. If you want help with either, reach out to me any time. SCHEDULE A CALL WITH ME