One of the most common questions we hear is, “I don’t take any prescriptions. Why do I need to purchase a Part D plan?” The answer is simple: If you don’t enroll when you are eligible for Part D and you don’t hold creditable Part D coverage, you risk permanent late penalty charges. Medicare will charge a 1% late enrollment penalty each month until you do enroll in a plan. This would be applied to the future plan chosen and would be applicable to the average monthly premium for that year. Remember this is a permanent penalty each year and it is added to the cost of any plan you may purchase.
Many plans begin around $15 per month. We recommend that you get a prescription drug plan to protect from future costs.
Learn More: I Have Drug Coverage Through My Employer, Do I Need a Medicare Part D Plan Too?
People Also Read: When can I enroll in Medicare Part D?
People Also Asked: Does Plan G cover prescription drugs? Does Plan F cover prescription drugs?
