Question

Individuals may have to pay a late enrollment penalty if they don't sign up for which of the following when they first become eligible?

a) TRICARE Prime
b) TRICARE Select
c) Medicare Part A and Part B
d) TRICARE Dental Program

Answer 1

Individuals must sign up for Medicare Part A and Part B when they become eligible to avoid a late enrollment penalty. Medicare is a healthcare system for those over 65, whereas Medicaid and Veterans Health Administration cater to different groups. The individual mandate required everyone to maintain health insurance or face a penalty.

Step-by-step explanation:

Individuals may face a late enrollment penalty if they do not enroll in Medicare Part A and Part B when they first become eligible. Neither TRICARE Prime, TRICARE Select, nor TRICARE Dental Program imposes such a penalty. It's important to note that Medicare Part A is generally premium-free for those who have paid Medicare taxes while working. However, Medicare Part B requires a monthly premium, and delaying enrollment can lead to higher premiums as a penalty.

Turning to which healthcare system offers insurance primarily for those over 65, the answer is Medicare. This federal system was established to ensure that seniors, who may not have access to employer-based health insurance, have the necessary health coverage. Medicaid and Veterans Health Administration services are aimed at different populations, such as low-income families and military veterans, respectively.