Common Medicare Questions

Still have questions about Medicare? We can answer them for you. We receive questions every day from our clients, and have compiled a list of those we are asked most frequently. If you don’t see the answer to the questions that you have, contact us and we will speak to you personally!

What is the Medicare late enrollment penalty?

If you do not enroll when first eligible into a Medicare Part D plan, a penalty will be added to your monthly Part D premium for as long as you have Part D coverage.

The penalty for not enrolling when eligible is 1% of the “national base beneficiary premium” for every month you were not enrolled in a Part D policy. So, if someone goes 20 months without creditable coverage or enrollment into a Part D plan, they would pay 20% of the “national base beneficiary premium.” For example, in 2019, the national base premium is $33.19, and multiplied by 20% would calculate to $6.60 per month penalty for as long as the beneficiary is enrolled in a Part D plan.

Note: Many will decline coverage when first eligible because they are not taking medications at that time. However, please weigh this against not only the costs of your Part D plan, but the risk of being prescribed expensive medications in the future and not having the financial means to cover the costs.

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