Try: Medicare part d enrollment is voluntary and occurs in the last quarter of the previous year medicare beneficiaries who were eligible but did not enroll during the enrollment period must pay a late-enrollment penalty lep to receive part d benefits the penalty is equal to 1 for each month of delayed enrollment and is permanent the penalty raises the monthly premium of part d for beneficiaries if they should elect coverage for example if helen delays medicare part d enrollment for 2 years her penalty will be a 24 percent increase to her monthly premium this penalty does not apply if the beneficiary has another type of prescription drug coverage if the enrollee had "credible coverage " as defined by medicare the penalty will not occur generally if the plan is equivalent to the coverage under medicare part d it will qualify as credible coverage

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Categories: Financial, Medical Physical

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*This information is listed as a Fact Sheet and is not explicitly medically licensed