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Question: How does the premium grace period work on Medicare Part D plans?

Answer: A Medicare Part D plan must provide individuals with a grace period of not less than one calendar month. However, some plans may provide a grace period that is longer than one month.

Example:
Plan XYZ has a one-month grace period for Medicare Part D premium payment. Mr. Smith's premium was due on February 1. He didn't pay this premium.  On February 7, the plan sent a notice to Mr. Smith. He ignores this notice and any follow-up premium bills. The grace period is the month of February. If Mr. Smith doesn't pay his plan premium before the end of February, he will be disenrolled as of March 1.

Also see:



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: : Still have a question? Click here to let us know.

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