If you go 63 days or more in a row without Medicare drug coverage (Part D) or other creditable prescription coverage after you were first eligible, you may owe a Part D late-enrollment penalty. According to Medicare.gov, it is 1% of the national base beneficiary premium for each full month you went without coverage, rounded to the nearest 10 cents, and it is added to your monthly Part D premium for as long as you have Part D coverage.
How to use the result
The estimate shows what would be added to your monthly premium and what that adds up to over a year. Medicare calculates the actual penalty, so treat this as a planning number. Months when you had other drug coverage that Medicare considers creditable do not count, and you can ask Medicare to review a penalty you believe is wrong.
Comparing drug plans during the Annual Enrollment Period? See our enrollment countdown for the dates.
General information, not insurance advice. Confirm the figures and your own situation with Medicare.gov, 1-800-MEDICARE or a licensed agent.