Medicare Part D Penalty

Medicare Part D Penalty. Complete Medicare Resource Center here:
Best Medicare Supplement Plan:
Medicare Plan F – Just Say NO:
Medicare Plan N –


YouTube Channel:

This video discusses the Medicare Part D Penalty. We you first become Medicare eligible you have to option of buying a Medicare prescription drug plan to help offset the cost of prescription drugs. If you do not purchase a prescription drug plan at this time there will be a penalty accessed if you choose to purchase a prescription plan at a latter date.
The penalty equates to 1% increase for each month you wait. This still may not make sense to purchase a prescription plan if you do not currently take expensive medications.
The Medicare Part D Penalty will be added to the regular premium you will pay for the prescription drug plan. Make sure to watch the video so you will understand how the Medicare Part D Penalty works and how to best manage it.

13 thoughts on “Medicare Part D Penalty

  1. Interesting.
    And i would note also, that unlike a medicare supplement, one can always
    acquire an r/x plan each AEP starting 01.01 each year, regardless of
    current medical conditions at that time.

  2. If Mrs. Martinez delays Part D till age 68, then pays penalty premiums till
    age 76 (8 yrs), she is at breakeven point. Paying any longer (living past
    age 76) she will have spent more than if she signed up for Part D at age
    65. I have done the spreadsheets and signing up when first eligible always
    results in overall lower spending, unless you die younger. Even delaying
    till age 80 results in more expense by age 90. If you don’t need
    prescription drugs at age 65, probably means you’re healthy enough to make
    age 90. Paying penalties for a long time results in greater out of pocket

    • Depends on inflation over that time and changes in health care insurance.If
      the Dems take the country,in the future,they likely will institute single
      payer Medicare and the penalty for not enrolling won’t matter.

  3. Out of over 40 available Medicare Advantage plans in my area,center of So
    California,there is only ONE plan without part D drug coverage
    included.So,will probably end up with it.

  4. I turned 66 Sept 19th 2016. But last year, when I was 65, and because my
    husband worked full time, and had healthcare benefits with Blue Cross/Blue
    Shield I only took Medicare Part A..

    My husband unexpectedly passed away Aug 2nd 2016 which left me without BCBS
    medical coverage thru his employer after August 31st, so I signed up for
    Medicare Part B in September without a penalty. However, I just discovered
    the Part D penalty applies to me during the 2016 Part C and D enrollment
    period this week and to my surprised I am being told that I will incur a
    Part D penalty for the three months I was without Part D coverage.
    Apparently, I am being told that I only had a window of 60 days to enroll
    in Medicare Part D after my September 1st Special Enrollment into Medicare
    Part B so I missed it by 7 days and now will have to pay three months
    penalty for the rest of my life. Not sure what the formula is or how much,
    so could someone help me figure my penalty out??? Any info would be

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