1. 11498 POINTS
    Jason Goldenzweig
    Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
    Medicare prescription drug coverage is not mandatory, but it is very wise to have a plan if you're on Medicare.

    Please note, if you do not get prescription drug coverage when you are first eligible for Medicare, you may be subject to a late enrollment penalty if you decide to purchase it in the future instead (the penalty can be waived in certain instances such as if you are coming off of group coverage).

    A great, very popular Medicare coverage structure to have is original Medicare (your Part A & Part B coverage), a Medicare supplement plan (to cover the all or a portion of the gaps in original Medicare - 20% of your health expenses), and a standalone Part D plan to cover prescription drugs.

    I hope the information is helpful - please feel free to contact me for help with your Medicare supplement program and if you have any other questions. Thanks very much.
    Answered on July 24, 2014
  2. 42 POINTS
    Joann Quinn
    Independent Agent & Medicare Supplement Specialist, reMEDIGAP, USA
    Enrollment in a Medicare Prescription Drug Plan (Part D / PDP) is not mandatory.  


    However, if you do not enroll in a Medicare approved Prescription Drug Plan, you’ll still need creditable prescription drug coverage to avoid a late enrollment penalty if you decide to enroll later on.


    To avoid the late enrollment penalty:
    Join a Medicare drug plan when you are first eligible and before your initial enrollment period is over.
    Don’t allow 63 days or more in a row without a Medicare drug plan or other creditable prescription drug coverage.


    If you choose to delay getting a PDP plan, you are not penalized until you decide to enroll.   This does come as a surprise to some people who choose to wait to buy a  Medicare PDP plan after being on Medicare for some time.

    To calculate a late enrollment penalty fee, first determine how many months you went without creditable drug coverage.  For example 43 months at a rate of $31.17 (2013) is 43 X .3117= $13.40.  So, in addition to the monthly PDP premium, you would pay a $13.40 late enrollment penalty.  You may have to pay this penalty for as long as you have a Medicare Prescription Drug Plan.  In addition, the penalty rate may increase each year.

    This was a great question.  I hope this answer was helpful.
    Answered on July 24, 2014
  3. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! The answer is one of those , "no, but you should" answers. Like health insurance isn't mandatory, having it is very wise, and not having it has penalties. It is  kind of like that with your prescription coverage. While it isn't mandatory to have, the cost of your prescriptions without it is often prohibitive. A prescription that Medicare covers may only cost you a couple of dollars, that without the coverage would cost $45-50 dollars or more. On a fixed income, and looking at stretching a retirement fund, I'd wholeheartedly recommend that you enroll in the plan. Thanks for asking!
    Answered on July 24, 2014
  4. 2330 POINTS
    Steve Adlman
    Owner, Alabama Medicare Plans, Birmingham, Alabama
    Medicare Prescription Drug Coverage is not mandatory. If you do not enroll in a Medicare Prescription Drug Plan when you become eligible for Medicare you will have to pay a late enrollment penalty. This is not a one time penalty, it is a permanent penalty because you will pay it as long as you have prescription drug coverage. The late enrollment penalty is added to the monthly premium for your drug plan. The late enrollment period for 2016 is an additional 34 cents per month for every month you could have had a drug plan. For example if you could have enrolled in a Medicare drug plan five years ago (60 months) your late enrollment penalty would be $20.40 (.34X 60=$20.40).
    Answered on August 3, 2016
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