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How much will my penalty be?

Your penalty is calculated when you first join a Medicare drug plan. To estimate your penalty, take 1% of the national average premium for the plan year. 1% of the 2013 average premium is $0.31. The 2013 average premium and penalty amounts are under What you pay for a Medicare Prescription Drug Plan in 2013 - Part D. This page also shows the average premium and penalty amounts since 2007.

You would multiply the number of full months that you were eligible to join Medicare Part D but were not enrolled in a plan by $0.31. This is your estimated penalty amount, which is added each month to your Medicare drug plan’s premium for as long as you have a plan. So if you were eligible but did not enroll for a 12 month period, your monthly penalty would be an additional $3.72 per month on top of your plan’s premium.

If you qualify for extra help, the penalty will be different. For help figuring your penalty amount, call 1-800-MEDICARE (1-800-633-4227) or your State Health Insurance Assistance Program (see Other Important Medicare Contacts for their telephone number).


Additional Resources:

: : CMS Tip Sheet - Calculating the Late Enrollment Penalty
: : Other Late Enrollment Penalty Questions & Answers
: : More Examples and Discussion of the Late Enrollment Penalty (LEP)
: : How To Appeal the Medicare Part D Late Enrollment Penalty


(Primary Source: Centers for Medicare and Medicaid Services - Medicare and You Handbook. This content may have been added upon by Q1Group LLC to include further examples, explanations, and links.)
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