80% of Medicare beneficiaries don’t know this rule — or its penalty

80% of Medicare beneficiaries don’t know this rule — or its penalty
·2 min read

Failing to enroll in Medicare can lead to some steep penalties, and that’s just as true for Medicare Part D, which covers prescription drugs. Eight in 10 Medicare beneficiaries were not aware of the late enrollment penalty for Part D, according to a survey of more than 1,000 people from MedicareAdvantage.com. The penalty applies to people who do not have “creditable drug coverage” for 63 days.

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