Should healthy Medicare beneficiaries postpone enrollment in Part D?

(1) Total lifetime expected out-of-pocket costs are minimized if healthy 65-year-old Medicare beneficiaries enroll in Part D immediately upon eligibility rather than waiting until they contract a drug-intensive condition. (2) The savings from early enrollment are greater for females than for males. (3) The late enrollment penalty for Medicare Part D provides an important incentive for early enrollment, and eliminating the late enrollment penalty would create a significant cost advantage for postponed enrollment, especially for men.