06/23/2026
Did you know? 💡
👇🏻
Here’s you a tip for your ✨ Tip Tuesday ✨
• If you do NOT choose a Part D prescription drug plan during your Initial Election Period of turning 65 and receiving Medicare, you will
👉🏻 add a permanent additional charge to your drug plan premium once you do choose a drug plan. 💊
While this may seem small, some Medicare recipients are unaware of this and it can cause confusion later on down the road.
•• Scenario ••
JimBob turned 65 in July 2002 and never chose to take a Part D prescription drug plan because he wasn’t on any medications.
Now, it is July 2005 and JimBob was just prescribed an expensive, but needed, medication and needs to add a drug plan to his Medicare.
👉🏻 Not only will JimBob pay his $10 monthly plan premium, his deductible and his copay for his medication- now he will also pay a $14.04 monthly penalty for being without drug coverage for those 36 months.
•• being without drug coverage will now cost JimBob and additional $169 a year for his drug plan.
✨ Don’t be like JimBob.
Reach out to one of our local health insurance agents here at 📍 Hometown Medicare Mkt. so you can avoid the Part D penalty!
