Medicare Drug Plan Penalty

The penalty is there to encourage people to get drug plans BEFORE they need them. This is so that the premiums and copays can be kept lower. The idea behind insurance is you pay every month so that you are covered in case something happens, or in this case if you need drugs. So some people will get drug plans when they don't need them, which helps pay for the people who do need the drugs. If you are only signing up when you need drugs, then you aren't paying into the system and are simply asking a company to pay for your drugs for you (at least some). The penalty is in place to help cover the fact that you haven't been paying into the system for years.

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