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Is there a way to find out beneficiary part d penalty before they enroll in MAPD plan?
A. The maximum penalty is easily calculated by taking the months they have been without coverage and taking that percentage of the standard part D premium.
B. The possible penalty, the guess, should be what they "think" they have been without coverage.
If someone today has been on Medicare since before Jan. 1 2006 and never had drug coverage, they are subject to about 100% or $32/mo.
I stopped doing MA/Part D a few years ago. I know that the penalty is 1% for each month they could've had Part D, but didn't...where did you get the figure $32 a month? I never saw a premium mentioned.
The penalty is 1% of the national average cost of an Rx plan (currently $31.17) times the number of months without creditable coverage. It's about $30 (1% of avg cost times # of months without an Rx plan) for those who never got an Rx plan since 1/1/06.
I take calls for a particular company during the Medicare AEP. A caller says that he was told the maximum penalty is $24.00 regardless of how long you haven't had credible coverage. Can anyone verify if this is true? I cannot find it anywhere.
Good gawd!!! It is CREDITABLE coverage.A caller says that he was told the maximum penalty is $24.00 regardless of how long you haven't had credible coverage.