You may not need a Prescription Drug Plan (PDP) now.

However, if you do not purchase when first eligible, a monthly penalty surcharge will be assessed later.

  • Penalty will start being paid when a PDP is eventually purchased.
  • Penalty will be payable for life.
  • If a drug plan will ever be needed, it may be prudent to purchase an inexpensive PDP (circa $20/month) when first eligible.
  • By doing so, you thereby avoid a penalty to be assessed later.

The surcharge for late enrollment starts small, about 35 cents for each month of delayed purchase.

The penalty for a 12-month delay will be about $4.20 (.35 x 12) per month for life; a 2-year delay will cost about $8.40 per month for life; a 3-year delay will cost about $12.60 per month for life.

Click here for step-by-step instructions to select the most cost-effective Prescription Drug Plan available in your area.

Click here to buy your Medicare supplement now.