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Can I wait and sign up later for Medicare Part D when I need coverage?

Dr. Michael Roizen, MD
Internal Medicine

You can if you want to, but keep in mind that if and when you do decide you want to sign up, you can only do so between October 15 and December 7 each year. Not to mention, you may have to pay a penalty and a higher premium. Since you pay for fewer years, your total cost would be less even though your current costs (when you start the program) might be more. So, even if you don’t currently take many prescription drugs, consider joining when you’re first eligible, within three months of your 65th birthday.


 

Yes, you can wait and sign up later for Medicare Part D but consider this carefully. There will be a financial penalty if:
You enroll later than when you were first eligible to join Part D.You have gone for more than 63 days without other drug coverage that is considered as good as Part D coverage. 

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Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.