What is the penalty for signing up late for a Part D plan?
If you are eligible to enroll (if you have Medicare A and/or B and no prescription coverage) and you do not do so by May 15, 2006 you will be charged an additional 1% for every month you do not sign up. This amount will be added to your monthly premium once you do sign up and you will have to pay this higher amount for as long as you are enrolled in a plan. The 1% is determined from the average plan premium per month.
