CREDITABLE DRUG COVERAGE

Your prescription drug plan must tell you each year if your drug coverage is creditable coverage. They may send you this information in a letter, or another official form of correspondence.

Check Your Junk Mail:
If you are thinking about delaying your enrollment in Medicare, it keeps this information because you may need it if you join a Medicare drug plan later and want to avoid the Part D late enrollment penalty.

When you join a Medicare drug plan, your plan will ask you to provide a certificate of continuous coverage. To avoid a Part D penalty, complete the form and return it to your drug plan by the deadline in the letter. If you don’t tell the plan about your creditable drug coverage, you may have to pay a Medicare Part D late enrollment penalty.

Even though most people qualify for Original Medicare (Parts A and B) when they turn 65 – the rules about Medicare eligibility and when you can enroll for Parts A and B can feel really overwhelming. Connect with us today to get your customized Medicare enrollment planning guide.

Planning for retirement can feel overwhelming. Medicare features an alphabet soup of plans, coverage choices, premium levels and enrollment rules, it can be difficult to feel confident about the plans for your future.