Coming from the group or individual market, most newly senior persons are used to drug coverage being part of the package. However, quickly boomers learn that Original Medicare does not provide prescription coverage. Here are the things you need to know about Medicare Part D, AKA Prescription Drug Plans.
You are first eligible to enroll in Part D when you are first eligible for Medicare. This 7 month initial enrollment period runs from the 3 months before your 65th birthday, the month of your 65th birthday, and for three months after. If you don’t enroll in Part D when you are first eligible you are subject to a penalty. Click here if you’re ready to sign up today for Medicare Prescription Coverage.
Depends. You may be able to keep current coverage from a union or employer if it’s considered creditable insurance without having to switch over to Medicare’s prescription coverage. If this is the case for you, you should be able to switch later to Part D without having to pay the normal penalty for late enrollees.
Remember to keep any creditable prescription drug coverage information you receive from your plan in a file -do not send any of this to Medicare. This paperwork may be necessary when joining a Medicare Part D plan later.
If you have any further questions about Prescription coverage call 800-930-7956 or contact Senior65.
By Terry on February 18, 2017
The agent told me this morning that part D deadline is determined by the initiation of part A, and that I am not eligible. Your blue box is telling me that I am within the deadline for part D I'm a little unhappy because the agent yesterday told me that I am not eligible for medigap, which is not true.