Medicare DruG Plan Deadline

Time is running out to sign up for Medicare prescription drug coverage (Medicare Part D) or switch plans for next year.

Medicare enrollees only have until Sunday to sign up for prescription drug coverage. In addition, seniors who already have signed up for a Medicare Part D plan can switch plans until that time. Changes to plans are effective January 1.

Medicare recipients who have prescription drug coverage that's considered at least as good as Medicare Part D plans (sometimes called "creditable coverage") don't need to enroll.

Seniors who maintain "creditable coverage" won't face late-enrollment penalties if they decide to switch to a Medicare Part D plan at a later point in time. However, those without creditable coverage who didn't sign up for a Medicare Part D plan in the original open-enrollment period will pay an extra $1.91 a month if they enroll at a later point in time. In addition, The penalty increases another 1 percent every month that they wait to enroll.