One of the more common questions agents get asked from their Medicare clients is “what is the Medicare Part D late enrollment penalty?” It is fairly easy to explain that if a Medicare member spends more than 63 consecutive days without having Part D or creditable drug coverage, they will be required to pay a late enrollment penalty should they choose to enroll in a Part D plan in the future. The typical follow-up question is “will I have a late enrollment penalty?” This is also usually pretty easy to answer, assuming the agent asks the proper questions of the client and the client responds with accurate answers about prior coverage.
[Read more…] about Calculating the Medicare Part D Late Enrollment Penalty
content on Low Performing Plans. CMS plans to “nudge” consumers once again, with a reminder that the plan they’re in, if applicable, has consistently underachieved (less than 3 stars for 3 consecutive years). The beneficiary is directed to a variety of options for reconsideration at the bottom of the letter. Last year there were 525,000 members across 26 plans that were impacted. Letters go out once in October for those on these plans currently, and again in February of 2014 for those who selected a low performing plan this AEP with a 1/1/14 effective date. 
