What Is Creditable Prescription Drug Coverage?

Creditable prescription drug coverage is prescription drug insurance that provides at least the same level of benefits as Medicare's standard Part D plans. Having creditable coverage allows you to delay enrolling in Medicare drug plans without incurring a late enrollment penalty.

Why creditable prescription drug coverage matters

• Avoids late penalties: If you maintain creditable coverage and later enroll in a Medicare Part D plan, you won't face costly late enrollment penalties.
• Provides flexibility: Creditable coverage through an employer, union, or government program can give you additional options outside of Medicare.
• Simplifies future enrollment: Maintaining continuous creditable coverage streamlines your transition to Medicare drug coverage if your current coverage ends.

How Solace can help

A Solace advocate can determine whether your current drug coverage is considered creditable, helping you avoid late penalties and make timely decisions about enrolling in Medicare Part D. Advocates can also guide you through switching coverage, ensuring smooth transitions without disruptions to your prescriptions.

What to do next

Not sure if your prescription coverage counts as creditable? A Solace advocate can evaluate your current coverage and help you decide if or when to enroll in Medicare Part D. Find an advocate today.