I pay a penalty for not initially signing up for Plan B every month of close to 200.00 a month. Anyway to relieve or stop the penalty without losing Plan B?

Hi. Probably not, assuming that you enrolled in Part B after reaching age 65. If you enrolled in Part B prior to age 65 based on a disability, you'd get a new initial enrollment period (IEP) at age 65. That would allow you to re-enroll at age 65 without the late enrollment penalty.

But, if you enrolled in Part B after your age 65 IEP was over, then you're likely stuck with the resulting late enrollment penalty. The only way that you wouldn't have to pay the penalty is if the reason you enrolled late was because you were covered through an employer group health plan (EGHP) based on your work or your spouse's work (https://www.ssa.gov/help/iClaim_medSEP.html). If that was true, though, then you probably wouldn't be paying a late enrollment penalty now.

Best, Jerry