Your first chance to sign up for Medicare Part D is during your

Medicare coverage
How to change Medicare Part D plansOnce you have Medicare Parts A and B (often called Original Medicare), you’re eligible for a Part D prescription drug plan. These plans can vary based on price, coverage, and the formulary—the list of covered prescription drugs. Because each Medicare Part D plan may be different, it’s important to compare plans before you enroll.
There are 2 different ways you can get prescription drug coverage. You could enroll in a
Your first chance to sign up for Medicare Part D is during your
Most Humana Medicare Part D plans come with added services, at no extra cost, to help you maintain your health and your budget. Compare available plans in your area today!
The IEP for Medicare starts 3 months before the month you turn 65, and ends 3 months after. During this period, you can choose a Part D plan once you enroll in Medicare Part A and Part B.3
You can make
The Medicare Advantage OEP is your chance to make changes to your Medicare Advantage coverage. It lasts from Jan. 1 to March 31 each year. During this time, you can switch from 1 Medicare Advantage plan to another. You may also disenroll from Medicare Advantage and go back to Original Medicare. If you return to Original Medicare, you can choose a standalone Part D plan during this period. Any changes you make will take effect on the first day of the following month.5
During certain life events, you may be able to enroll in a new Medicare Part D plan. This period after a qualifying life event is called a
One major pitfall you’ll want to avoid with your Medicare prescription drug coverage is the late enrollment penalty. This penalty is an amount that is permanently added to your Medicare drug plan’s premium. You may have to pay this penalty if there is a period of 63 days or more after your Medicare IEP where you don’t have creditable prescription drug coverage. “Creditable drug coverage” refers to a drug plan that pays at least as much as Medicare Part D on average.7
There are a few common mistakes that could land you with a
When you enroll, it’s important to compare plans before you make a decision. Medicare Part D plans may differ based on their pharmacy networks, their premiums or the drugs they cover. Make sure you find a plan that works best for you.
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