Penalty (Health Care) Law and Legal Definition
Penalty in the context of health care refers to the amount that get added to the monthly medicare part B premium or to the medicare prescription drug plan premium, for not getting enrolled in the plan in the initial enrollment period. Medicare beneficiaries who hold a medigap policy with drug coverage and then enroll in a Part D Plan will have to pay a late enrollment penalty if they do not enroll within the time prescribed by the initial enrollment period. However, few beneficiaries holding a medigap policy with a drug benefit that is considered creditable coverage is exempted from penalty.
Legal Definition list
Related Legal Terms
- Accelerated Benefits (Health Care)
- Accumulation Value (Health Care)
- Actual Age (Health Care)
- Actuarial Equivalent (Health Care)
- Acute Care
- Additional Health Services
- Adequate Parental Care
- Adequate Veterinary Care
- Admitting Privileges (Health Care)
- Adoption and Foster Care Analysis and Reporting System (AFCARS)
