You may owe a late enrollment penalty if you go without a Medicare Prescription Drug Plan (Part D), or without a Medicare Advantage Plan (Part C) (like an HMO or PPO) or other Medicare health plan that offers Medicare prescription drug coverage, or without creditable prescription drug coverage for any continuous period of 63 days or more after your Initial Enrollment Period is over.
https://www.medicare.gov/part-d/costs/penalty/part-d-late-enrollment-penalty.html
Most of my clients have prior creditable coverage. Took an app today on someone who hasn't had health insurance for almost a year.
If reading the above correctly, his initial enrollment starts 10/1 and ends the last of March. If he wanted, he can wait until end of May of next year before enrolling in a PDP without penalty.
Correct?
https://www.medicare.gov/part-d/costs/penalty/part-d-late-enrollment-penalty.html
Most of my clients have prior creditable coverage. Took an app today on someone who hasn't had health insurance for almost a year.
If reading the above correctly, his initial enrollment starts 10/1 and ends the last of March. If he wanted, he can wait until end of May of next year before enrolling in a PDP without penalty.
Correct?