Prescription Drug Plans
Medicare Part D is a stand alone prescription drug program, which means it is purchased separately from your Medicare Supplement policy from a separate company.
You are not required to purchase a Part D prescription plan. If you choose not to purchase a plan and decide to enroll at a later date you will be required to pay a penalty of 1% per month that you were not enrolled in a plan.
If you do not sign up when eligible you will not be able to enroll until the annual enrollment period which is October 15th thru December 7th of each year. Your coverage will then be effective January 1st
You have to understand that the best plan for you may not have the lowest premium! It’s all about the medicines you take and the pharmacy you go to! (Drug pricing and formularies differ for each company)
I don’t take any medicines, should I buy a plan?
Most people who do not take medicines usually buy the cheapest plan available to avoid the penalty, but the call is yours!
