When can I enroll in Medicare Part D?

Whether you’re on the cusp of turning 65 or have already made it there, Medicare is probably on your mind. That’s the government-run program through which millions of Americans ages 65 and older — plus some people with end-stage renal disease or certain disabilities — get their health insurance.

And Medicare can be confusing. That’s especially true if you’re new to the program. But even if you have Medicare already, it can still be a lot to remember. The program follows some strange rules, with multiple parts and dates to figure out and plan for.

So, let’s look at Medicare Part D. This is the part of Medicare that covers prescription drugs. Here’s what you should know about enrolling in Medicare Part D, along with other useful information that will help simplify the process for you.

Thinking about health insurance? Call a licensed insurance agent at (800) 827-9990 to talk about plans, or browse your options online today.

When can I enroll in Medicare Part D?

The most important enrollment period to know about for Medicare is its Open Enrollment Period, or OEP for short. It normally runs every year from October 15 to December 7.

If you’re 65, you’re already eligible for Medicare Part D. And if you already have Original Medicare (that is, Medicare Part A and Medicare Part B) or a Medicare Advantage plan, OEP is your window for adding a Part D plan. (Medicare Part A covers things such as hospital stays, while Part B covers doctor visits.)

That said, if you’re not yet 65 but will be soon, you can enroll outside that window. “You can sign up for Part D 3 months prior to aging in,” says Jeff Schneider, a licensed health insurance agent in Kentucky, Ohio, Indiana and Florida. And the window stays open for 3 months after your birth month.

For example, if your birthday is in August, you can sign up for Medicare from May 1 to November 30.

By signing up ahead of time, you’ll receive drug coverage starting the day you turn 65. “And you won’t pay for the plan until it’s in effect,” says Schneider. “That’s why it’s smart to plan ahead and sign up prior to turning 65.”

What else do I need to know about enrolling in Medicare Part D?

You can only enroll in a Medicare Part D plan after you’ve enrolled in Medicare Part A and/or Medicare Part B. “Parts A and B cover about 80% of your medical bills,” says Schneider.Medicare Part C, or Medicare Advantage, is a type of Medicare plan regulated by the government and purchased through a private insurer. The upshot is that it may offer additional coverage not provided by Original Medicare.

For example, some Medicare Advantage plans come paired with prescription drug coverage. In that case, you wouldn’t need to sign up for a Medicare Part D plan.

What insurance might be right for you? Call a licensed insurance agent at (800) 827-9990 to talk about plans, or browse your options online today.

Do you need Medicare Part D coverage if you don’t take any medication?

While Medicare Part D is optional, it is offered to everyone who has Medicare. And Schneider recommends signing up for it regardless of whether you currently take any medications.

“Even if you take no medication, the extra amount you’ll pay for Part D is around $4.80 a month,” he says. But if you go at least 63 days with no drug coverage, you’ll pay a penalty when you eventually do sign up.

Penalties are calculated based on how long you went without drug coverage, and Schneider says he once saw someone who had to pay $112 a month for a Medicare Part D plan.

Whether your 65th birthday is looming or you’re already there, it’s a good idea to get a jump on learning about Medicare. You can call a licensed insurance agent at (800) 827-9990 to talk about plans, or browse your options online today.