Medicare Part D Late Enrollment Penalty Calculator
Use this free Part D (drug coverage) plan calculator to learn your penalty for not enrolling in Part D coverage on time, on top of your monthly premium.
First, enter the number of months you went without creditable coverage for the total penalty you pay every month.
Then, do you know your monthly Part D premium? Your monthly premium is the amount you pay each month for your Part D plan. Choose yes or no. If you don’t know, that’s OK.
Enter the amount you pay monthly for your Part D coverage. We use a standard number to give you an estimate, but your monthly Part D premium will likely be different.
The calculator’s Total Monthly Cost displayed is how much money you’ll pay every month for your monthly Part D premium for a Part D drug plan.
This tool provides an estimate only, and the total monthly cost may not be accurate for your situation, particularly if you earn more income and must also pay the IRMAA surcharge.
Contact me to learn more about the Part D penalty, how the penalty works with a Medicare Advantage plan, and potential ways to avoid this penalty.
*This tool is an estimate only and may not be exact.
Part D Penalty Explained
The Part D penalty is determined by taking 1% of the “national base beneficiary premium” times the number of months someone has gone without having Part D or creditable drug coverage.
Note: The national base beneficiary premium changes from year to year, so your penalty with fluctuate as well.