I am covered by my wife's policy . Do I have to get into Plan D by Dec. 31st??

Question

I'm 68yrs old.

Answer 1

You don't "have" to take Plan D at all. Do you have other health insurance that already covers prescription drugs? If so, you may be dupelicating your coverage and not receiving any benefit from it because most prescription plans do not coordinate benefits. Look at your current coverage. If you are just on Medicare Part A and B, then you have time limits to apply for Part D without being penalized. Contact your Medicare Part B customer service and they'll be able to tell you when your enrollment dates and restrictions are. Multiple insurance companies have Medicare Part D plans. If you are a member of AARP, contact them. You may be able to get a Part D plan at a discount.

Answer 2

If your wife's insurance covers pharmacy bills you don't have to sign up for Part D. When she retires you have a 30 day grace period to find your supplement coverage then. You'll need a letter from her employer stating you had coverage that was equal to or better than other coverage to show at time you buy your supplement coverage. If you miss that 30 day grace period you could be 1) penalized 2) get stuck with pre-existing history