What is the Medicare Part D Late Enrollment Penalty?
You may incur a late enrollment penalty if there is a continuous period of 63 days
or more at any time after the end of your Initial Enrollment Period (IEP) during
which you were eligible to enroll in a Medicare Part D plan, but were not enrolled
and not covered under any creditable prescription drug coverage.
A late enrollment penalty is an additional amount added to your monthly Medicare
Part D premium. The specific cost of this fee depends on how long you went past
your IEP before enrolling. You will be required to pay the penalty for the length
of your Medicare prescription drug coverage.
(Note: “creditable coverage” is coverage as good as Medicare Part D coverage).
Return to the Medicare FAQ section to view more answers
to other commonly asked questions about Medicare prescription drug coverage.