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
What is the Medicare Part D Late Enrollment Penalty?
You may pay a Late Enrollment Penalty assessed by Medicare1, if all of the following
- 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
- You were eligible to enroll in Medicare Part D at the time of your IEP
- You did not have creditable coverage when your IEP ended.
Information you'll need on hand when you enroll in Medicare
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 emergency contact information
- Your Medicare information as it appears on your Medicare card
- Any applicable medical or prescription insurance plan information.
Ready to Enroll Online
1There is an exception: if your birthday falls on the first of any month, your 7-month IEP begins and ends one month sooner. For example, if your birthday is July 1, your 7-month IEP is the same as if you were born in June— beginning in March and ending in September.