Are there any penalties for not enrolling in AARP - MedicareRxPlan?

There are potential penalties associated with not enrolling in AARP - MedicareRxPlan or deferring enrollment in Medicare prescription drug coverage, known as Part D. If an individual qualifies for Medicare and chooses not to enroll in a Medicare prescription drug plan when first eligible, they may face a late enrollment penalty. This penalty generally applies if there is a gap of 63 days or more without creditable prescription drug coverage. The penalty amount is calculated as an increase in the individual’s monthly premium for Medicare drug coverage, which could be added for the duration of their enrollment in the plan. It is important for individuals to understand their specific circumstances regarding prescription drug coverage when considering enrollment. AARP - MedicareRxPlan participants should also be aware of the annual enrollment period and special enrollment periods that may affect their ability to join or switch plans without penalties. For the most accurate and detailed information regarding enrollment deadlines and penalties, individuals may consider visiting the current AARP website to access resources and guidance tailored to their needs.