Enroll in Part D when you are eligible

The best time to enroll in a Part D prescription drug plan is when you first become eligible. Often, a Medicare beneficiary may mistakenly believe that they can save some money by not enrolling in a Part D Plan because they are prescribed little or no medications.
Don’t fall into this trap. You could end up with higher costs due to the late enrollment penalty. Also, it’s called insurance for a reason. Even though you are on little or no prescription medicine, that is not an indicator as to what may happen in the future.

Here are some tips from the publication “Medicare and You”

Here are a few ways to avoid paying a penalty:
Join a Medicare drug plan when you’re first eligible.

You won’t have to pay a penalty, even if you’ve never had prescription drug coverage before. Don’t go for more than 63 days in a row without a Medicare drug plan

Creditable prescription drug coverage could include drug coverage from a current or former employer or union, TRICARE, or the Department of Veterans Affairs. Your plan will tell you each year if your drug coverage is creditable coverage. Keep this information, because you may need it if you join a Medicare drug plan later. Let your Medicare drug plan know if you had other creditable coverage.
When you join a plan, you may get a letter asking if you have creditable coverage. Complete the form they send you. If you don’t tell the plan about your creditable coverage, you may have to pay a penalty