Medicare Part D otherwise known as a Prescription Drug Plan is a part of Medicare. Sometimes this is part of your Medicare Insurance, for example, if you chose a Medicare Advantage Plan. However, if you have Original Medicare, you will need to sign up for Part D.
When you first turn 65, you enter your Initial Enrollment period. This is a 7 month period of time(3 months prior to your birthday, the month of your birthday and three months after your birthday). If you will not have employer coverage, you will need to sign up for Medicare. If you just choose Part A and Part B you must sign up for Part D, otherwise you will be subject to a penalty. In 2019 that penalty is 1% of the national base premium($33.19) times the number of months you went without Part D coverage. Now this penalty is added to your monthly premium and continues every month.
So don’t forget that you will need credible Prescription Drug coverage, otherwise you will be subject to a penalty.
If you have questions, please reach out to me and I’ll help guide you through the process.