Should I Get Medicare Part D Now or Wait?
Enroll in Part D when you first become eligible unless you have creditable drug coverage from another source. Without creditable coverage, every month of delay adds a permanent 1% penalty to your Part D premium.
When This Applies
- You are enrolling in Medicare for the first time
- You have drug coverage from an employer or other source
- You are deciding whether you need Part D right now
- You don't take many medications currently
Frequently Asked Questions
- How do I know if my coverage is creditable?
- Your plan must send a notice before Medicare Open Enrollment each year. If you haven't received one, ask your plan administrator directly.
- What if I don't take any medications?
- You should still enroll in Part D unless you have creditable coverage. The penalty accumulates whether or not you use medications.
- When can I enroll in Part D?
- During your IEP, during a SEP (if losing creditable coverage), or during Open Enrollment (October 15–December 7).