Understanding the Importance of Declaration of Prior Prescription Drug Coverage
If you recently enrolled in Part D after your 65th birthday, you may have received a letter from private insurance companies on behalf of Medicare requesting you to complete a “Declaration of Prior Prescription Drug Coverage” form. This declaration is essential as the government needs to verify that you haven’t gone without prescription drug coverage for more than 63 days since you became eligible for Medicare. In this article, we will explain the importance of this declaration, how to complete it, and answer some frequently asked questions.
Importance of Declaration of Prior Prescription Drug Coverage
The Declaration of Prior Prescription Drug Coverage is necessary to confirm that you have had continuous prescription drug coverage since you became eligible for Medicare. If you have not had continuous coverage, you may be subject to a penalty fee for late enrollment. The penalty fee increases each year that you do not have creditable prescription drug coverage, and it is calculated based on the number of months you went without coverage.
Completing the Declaration of Prior Prescription Drug Coverage Form
If you have received a letter requesting you to complete the Declaration of Prior Prescription Drug Coverage form, you need to provide the dates and name of the health insurance plan you had. For example, you may have had coverage through your employer’s health insurance or a previous Part D plan from Medicare. You can mail the form to the address provided, or call the new Part D plan company directly to give a “verbal attestation” that you did not experience a gap in prescription drug coverage.
Frequently Asked Questions:
Q: Who needs to complete the Declaration of Prior Prescription Drug Coverage form?
A: Anyone who has recently enrolled in Medicare Part D and has received a letter requesting them to complete the form needs to do so.
Q: What happens if I don’t complete the form?
A: If you don’t complete the form, you may be subject to a penalty fee for late enrollment.
Q: What should I do if I am unsure if I have had continuous prescription drug coverage?
A: You can contact your previous health insurance provider or Medicare to verify if you have had continuous coverage.
The Declaration of Prior Prescription Drug Coverage is an essential form that Medicare requires to verify that you have had continuous prescription drug coverage. If you have received a letter requesting you to complete the form, make sure to provide the dates and name of the health insurance plan you had. It is crucial to complete this form to avoid penalty fees for late enrollment. If you have any questions, call the Medicare advisors at Plan Medicare and we can assist you with this process.