Medicare Part D

Senior Couple dancing together knowing that they avoided the Part D Late Enrollment Penalty

What’s the Part D late enrollment penalty?

The late enrollment penalty is an amount that’s added to your Part D premium if, at any time after your Part D 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. Note: If you get Extra Help, you don’t pay a late enrollment penalty. How much is the late enrollment penalty? Currently, the penalty amount is calculated by multiplying the 1% penalty rate times the “national [...]