Medicare Part D Prescription Drug Insurance, Part 2
In addition, it is advisable to enroll in Medicare Part D as soon as you are eligible for the first time. If you choose to enroll later, or if you want to get 63 or more days of prescription without Medicare Part D prescription drugs, you may have to pay a late enrollment fee, unless you can show that you will be eligible for the subscription during the period. In Part D, recognized prescription drug insurance is an insurance that pays at least as much as Medicare’s Part D prescription drug insurance. For example, the health insurance you can get from your employer can be considered an acceptable prescription drug insurance. Your insurance company must inform you each year if your insurance is acceptable. If you are not sure, contact your insurance company.
As mentioned above, you must first have Medicare Part A and/or B to enroll in a Medicare prescription drug policy, and you must have Medicare Part A and B to enroll in a Medicare policy Advantage for prescription drugs. For the first time, you may be eligible for Medicare Part D insurance during your first Registration Period (IEP) for Part D, which generally takes place within the same seven month period as the original Medicare enrollment period. These are the seven months that commence 3 months before they turn 65 years, include their month of birth and end 3 months later. A good time to enroll in Medicare is usually once you enroll in Original Medicare.
You may also enroll in Medicare Part D insurance within the annual election period (AEP), often called the Autumn Open Enrollment period or 2019 Medicare Supplement plan Open Enrollment Period and Medicare Prescription Drugs. This will take place from October 15th to December 7th. During this time:
- Register for the prescription drug policy of Medicare Part D or change from one prescription drug policy to another.
- Log out of your Medicare prescription drug policy (if you are already enrolled in a drug).
- Log in to Medicare Advantage Prescription Drugs or switch to another.
- Log out of your Medicare Advantage policy and switch back to Original Medicare.
After the end of the annual election period, you have another opportunity to make changes to your Medicare Part D insurance. If you are participating in a Medicare Advantage policy, you can use the Medicare Advantage Period (January 1st to February 14th) to withdraw from the Medicare Advantage policy and return to Original Medicare. If your Medicare Advantage policy includes prescription drug insurance, you can also request a separate Medicare prescription drug Policy during this period. These are the only changes you can make during this period. In general, you can only enroll in a Medicare prescription drug policy or make changes to your Part D insurance during any of the previous periods. However, there are situations in which you may qualify for a SEP if you can enroll in a Medicare Part D’s prescription drug policy or in a Medicare Advantage prescription drug policy outside of the annual eligibility period.