Late Enrollment Penalty

The annual enrollment period (AEP) is Nov. 15 and Dec. 31 for coverage beginning Jan. 1 the following year. Individuals, who enroll late and do not have coverage equal to Medicare Part D (creditable coverage), will incur a late enrollment penalty of 1% per month for each month the individual is not enrolled. Individuals who enroll late and provide proof of creditable coverage will not be assessed a penalty.

updated 10/01/08

This website is intended to provide you with information about Medicare prescription drug coverage so you can make an informed decision about how Medicare Part D can help you manage your prescription drug costs. The International Brotherhood of Teamsters Voluntary Employee Benefits Trust contracts with the federal government and is a Medicare-approved provider of the Part D plan.