To enroll, switch, or drop a Medicare Part D Prescription Drug plan, you must do so during a valid enrollment period. Since Medicare drug coverage has very limited enrollment windows, it’s essential to understand each enrollment period and what changes you can make during those times.
Below, you’ll find the three enrollment periods for Medicare Part D Prescription Drug coverage. You must be within one of the three enrollment periods below to enroll in or make changes to your Medicare drug coverage. Though Medicare Part D has multiple enrollment periods, it’s important to remember that enrolling in drug coverage for the first time outside of your Medicare Part D Initial Enrollment Period without creditable coverage in place can result in a penalty.
Initial Enrollment Period for Medicare Part D
The Initial Enrollment Period is your first chance to enroll in Medicare prescription drug coverage. If you choose to delay enrolling in Part D, and don’t have other creditable coverage in place, you may face a late enrollment penalty when you decide to enroll in Medicare Part D coverage.
Annual Enrollment Period for Medicare Part D
The Annual Enrollment Period for Medicare Part D is your yearly opportunity to enroll in or change your Part D coverage. This enrollment period occurs during the same time every year, October 15- December 7.
Special Enrollment Periods for Medicare Drug Coverage
You can sign up for Medicare Part D during a Special Enrollment Period if you qualify. To get a Special Enrollment Period, you must have gone through a qualifying life-changing event.
