Medicare & Senior InsuranceQuestion 212 of 315
The Part D late enrollment penalty is calculated as:
a.1% of the national base beneficiary premium per uncovered month, for life
b.10% of the Part D premium for 12 months only
c.A one-time fee of $200
d.Waived if the beneficiary is over 70
Explanation
The Part D late enrollment penalty is 1% of the national base beneficiary premium for each month the person went without creditable drug coverage after first becoming eligible, and it lasts for as long as the person has Part D.
Law Reference: 42 U.S.C. §1395w-113(b)Practice all 315 questions free — no signup required.
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