While Part D plans are an option; there is a penalty if you don’t enroll in one when eligible, if you should need to enroll in one in the future. The penalty at this time is 1% of the National average cost of a health plan for each month that you could have had one, but did not. At this time it is $.32. Not too bad, but how it plays out is that the penalty is added to the cost of whatever plan you choose for the rest of your life. Like the Medicare Advantage plan; you enroll in a part D during your 7 month window of opportunity. Your next opportunity would be the Annual Enrollment Period.
With both Part D and Part C, there are special times that occur in your life that may qualify as a Special Enrollment Period, SEP and allow you to change plans in the middle of the year in what we refer to as Lock down time. This would be allowed, if you moved from one region to another, and your plan was not available in the area you moved to. Another SEP, may occur if you lost your Group coverage.
If you are struggling to pay for a Drug plan, or keep up with the co-pays, you may qualify for Extra Help. Contact me and I will show you how to see if you qualify.