What Is Creditable Prescription Drug Coverage?

"Creditable" coverage is a key Medicare term. It means your current prescription drug plan (e.g., from an employer or the VA) is considered at least as good as a standard Medicare Part D plan.

Why It Matters

If you have creditable drug coverage when you first become eligible for Medicare, you can delay enrolling in a Part D plan without facing a permanent late enrollment penalty later. Your current plan must notify you each year if your coverage is creditable.

How Mira Mace Can Help

It's crucial to know if your current drug plan is creditable. Your advocate can help you verify your coverage status. This allows you to make a timely and informed decision about when to enroll in Part D, saving you from a lifetime of late penalties.