When Can I Sign Up for a Prescription Drug Plan?
If you’re approaching age 65 and wishing to sign up for Medicare, then this is also an opportune time to decide if you want a PDP added to your coverage. During your Initial Enrollment Period (IEP), you may choose to add Medicare Part D to your Original Medicare plan or select a Medicare Advantage plan with Medicare Part D coverage. Your IEP begins three months prior to the month of your 65th birthday and three months after.
What Are Your Medicare Prescription Drug Coverage Options?
If you decide not to choose a PDP during your Initial Enrollment Period, you may enroll in a plan during the Annual Election Period (AEP), occurring from October 15 to December 7. Please keep in mind that you may have to pay a late enrollment penalty to get a Part D plan, unless you previously had prescription drug coverage from a credible source, such as an employer, or qualify for an income-based assistance program.4