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What is Medicare Part D?


Medicare Part D is your prescription drug coverage.

Your prescription drug coverage is provided by private insurance companies and requires a monthly premium. The plan covers retail prescription drugs that you get from a pharmacy. A Medicare Part D prescription drug plan can help you drastically reduce out-of-pocket expenses at the pharmacy. 

One of the most common questions we hear is, “I don’t take any prescriptions. Why do I need to purchase a Part D plan?” The answer is simple: If you don’t enroll while eligible for Part D and don’t hold credible Part D coverage, Medicare will charge a 1% late enrollment penalty each month until you do enroll. This would be applied to the future plan chosen and would be applicable to the average monthly premium for that year. Monthly premiums can also vary based on household income.

Medicare Part D Rx Plan coverage and costs vary by the company providing the coverage. Each company has a formulary of covered drugs that are listed into different “tiers.” The level tier of the drug will determine the cost; the lower the tier of the drug, the lower the cost.

Learn more about Part D / Prescription Drug Plans. 

Learn More: Who Qualifies for Medicare Part D?

People Also Read: I Have Drug Coverage Through My Employer, Do I Need a Medicare Part D Plan Too?

Meet Melissa MacCalla

Medicare is not simple and can be hard, frustrating, and downright confusing for most. I love when I get someone on the phone and I am given the opportunity to explain the difference in plans to them and have Medicare make sense. I enjoy talking to clients year after year, hearing about their families growing or them asking about mine.


Senior Healthcare Solutions, you truly stand out from most other insurance agents. Thank you so much for all of your help and I know that you will have nothing but success with how you conduct business.

Joan B.

Montgomery, AL

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