Information to know before Medicare Part D Enrollment
Preparing to Enroll in Medicare Part D
Are you preparing to enroll in Medicare Part D? Not only should you consider your proper Medicare Part D Enrollment period, you should also consider the following factors that may influence your enrollment.
What is Creditable Coverage?
Creditable coverage is a term Medicare uses to define prescription drug coverage that is at least as good as Medicare's standard prescription drug coverage. Examples of creditable prescription drug coverage include:
- Coverage offered by an employer, former employer or union
- Federal Employee Health Benefits Program coverage
- State Pharmaceutical Assistance Program (SPAP) coverage
- Coverage by the Veterans Administration
What is the Medicare Part D Late Enrollment Penalty?
You may pay a Part D Late Enrollment Penalty assessed by Medicare, if all of the following are true:
- You went 63 consecutive days or more without prescription drug coverage
- The uncovered 63-day period occurred after the end of your Initial Enrollment Period (IEP)
- You were eligible to enroll in Medicare Part D at the time of your IEP
- You did not have creditable coverage after your IEP ended
Information you'll need on hand when you enroll in Medicare Part D
We recommend that you read important enrollment information before you begin. As you prepare to enroll, you'll need to have the following information on hand:
- The name of the plan in which you want to enroll
- Your Medicare information as it appears on your Medicare card
- Any applicable medical or prescription insurance plan information.
Ready to Enroll Online