The Medicare Enrollment Period Period will be here in less than ninety days. Take a moment now to consider the impact of the late enrollment period and specifically the penalty on your prescription drugs.
The late enrollment penalty is an amount added to your Medicare Part D premium.
You may owe a late enrollment penalty if, at any time after your initial enrollment period is over, there's a period of 63 or more days in a row when you don't have Part D or other creditable prescription drug coverage.
You must learn how to avoid the late enrollment penalty. Please note, if you get Extra Help, you don't pay the late enrollment penalty.
The final amount is rounded to the nearest $.10 and added to your monthly premium. The national base beneficiary premium may increase each year, so the penalty amount may also increase each year.
Do you have any Medicare questions or comments, leave them below.