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 there was a lapse in
coverage. 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. For
more information about the Medicare Part D late enrollment penalty, contact us at