Can I Cancel My Medicare Part D?

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   Ted Ratliff

   Owner, SFS Associates,

   You can only drop or change your plan during open enrollment.  I highly discourage dropping Part D completely.  There are very inexpensive plans available if you do not have many prescriptions.  Medicare will impose a penalty for every month that goes by that you were eligible for but not enrolled in Part D.  This can become very expensive, especially as your health deteriorates and you begin to take more prescriptions and need the Prescription drug plan.  The penalty never goes away unless you qualify for Low Incom Eubsidy or Medicaid.

   Answered on May 22, 2013

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