Medicare Part D Penalty (What They Aren’t Telling You)

The Medicare Part D Penalty, it's more than the small fine!
Do I need Part D? What happens if I need Part D and don't have it?

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Matthew Claassen is an independent insurance broker specializing in Medicare. Our mission is to provide you with all the information you need to make an informed decision regarding your Medicare choices.
We are licensed in over 40 states and help people make the best Medicare decision coast-to-coast, from California to Virginia and from Michigan to Miami. We understand the different state laws and regulations that can impact your decision and have been in the financial services industry since 1984.
Do I really need a Medicare Part D plan even if I take no prescription?
I am asked this question every week. This video is my answer. I explain why and how the financial penalty for not having a Medicare Part D drug plan should not be the real reason you consider when make the decision.
Make sure your insurance broker is a true independent insurance broker able to offer you unbiased advice. When it comes to Medicare, experience counts.

Medicare Part D Penalty (What They Aren't Telling You)

One thought on “Medicare Part D Penalty (What They Aren’t Telling You)

  1. Thank you. I was weighing the pros and cons of enduring a ‘penalty’ for late enrollment in a Part D (Prescription Drug Plan). Right now, I find that my annual costs with existing prescriptions (not many) are cheaper with a GoodRx pharmacy discount card than they would be for a year or two with the lowest-annual-cost Part D plan I could find by researching on the site. I see that the criterion for deciding WHEN to purchase a Part D Prescription Drug Plan is determining whether you can absorb the risk of suddenly developing a serious disease or condition that would require unsustainable, disruptive financial expenditures, rather than considering smaller factors like ‘avoiding late enrollment penalties,’ or banking on a GoodRx card based on current prescriptions (that may not be as stable as one would like to think; life and health are unpredictable, obviously, and an unforeseen illness can devastate one’s financial situation — even to the point of bankruptcy or loss of real estate property (possibly including one’s home, although I haven’t verified this last terrifying scenario). Anyway, I find your videos to be some of the most detailed, honest, and clear available on YouTube … by far.

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