Joining a part D plan

[carl365]

Hello folks, new here and very ignorant about the finer details of Medicare. Decided to keep my original Medicare A/B for now. But been wanting to add a part D drug plan. I know there will be a penalty if I added it now because I didn't get it when I enrolled back in 2009.

Question: If I enrolled in one of the private part D only plans, will I still have to pay a penalty?

Thanks.

 

[mattspits]

Hello folks, new here and very ignorant about the finer details of Medicare. Decided to keep my original Medicare A/B for now. But been wanting to add a part D drug plan. I know there will be a penalty if I added it now because I didn't get it when I enrolled back in 2009.

Question: If I enrolled in one of the private part D only plans, will I still have to pay a penalty?

Thanks.

Yes,

Any plan containing Part D coverage will trigger the penalty which is calculated at 1% per month. It's easy to find the Part D plan that works best for you in your area, and you have until December 7th to enroll. The longer you wait, the more the penalty will be.

thanks,

Matt

 

[carl365]

Thanks Matt, I should have signed up for part D when I signed up for Medicare. Only a few years too late as always for me. Anyway I joined a HMO couple days ago. Choosing which one was difficult with all the choices offered by each and since I can't afford to pay out hundreds each month.

Thanks!
Carl

 

[mattspits]

Carl,

Make sure when joining an HMO that all of your providers are in the plan's network. If they are, then you should be ok on the HMO. The plan will bill you for any Part D penalty that you owe.

thanks,

Matt

 

[carl365]

Carl,

Make sure when joining an HMO that all of your providers are in the plan's network. If they are, then you should be ok on the HMO. The plan will bill you for any Part D penalty that you owe.

thanks,

Matt

Yes, I made positive that my provider is in their network. I signed up online but called by phone to make sure. I hope the late part D penalty is not too much! would you know how much it would be? I enrolled in 2009.

If for some reason, it's a lot, can I disenroll and revert back to original Medicare?

Thanks.

 

[mattspits]

800-Medicare can tell you the true amount, but it is calculated at 1% per month of the national average Part D premium. I believe the average premium is around $35 so figure 12% per year. At 50% of $35 you are paying $17.50/mo in penalty. You can calculate closer by knowing the exact amount of months you were not enrolled, and the true average premium. Also, you can disenroll during the ADP or Annual Disenrollment Period from January 1 until Feb 14, 2015.

 

[carl365]

800-Medicare can tell you the true amount, but it is calculated at 1% per month of the national average Part D premium. I believe the average premium is around $35 so figure 12% per year. At 50% of $35 you are paying $17.50/mo in penalty. You can calculate closer by knowing the exact amount of months you were not enrolled, and the true average premium. Also, you can disenroll during the ADP or Annual Disenrollment Period from January 1 until Feb 14, 2015.

Thanks Matt, I'll call Medicare tomorrow. It's been 60 months since I enrolled back in 2009 so the penalty I guess would be quite high.

(I signed with Anthem Senior 1, zero premium plan)

On the disenrollment period, if I do disenroll, does my Medicare revert back to parts A/B like it was originally?

Thanks again!

 

[mattspits]

60 months = 60% penalty. Yes, you will go back to original Medicare with the option of joining a PDP plan. What you did makes sense since you will not have a premium for your coverage.

Matt

 

[carl365]

60 months = 60% penalty. Yes, you will go back to original Medicare with the option of joining a PDP plan. What you did makes sense since you will not have a premium for your coverage.

Matt

Hi Matt, one glimmer of hope yet ....haha! I talked to someone at Anthem and they told me, once I'm officially enrolled (Jan1) and the penalty is indeed high, I can file a appeal and hope Medicare forgives the late part D penalty. Or, disenroll from Anthem.

Carl