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– Medicare Part D –

What are Medicare Part D Plans (Prescription Drug Plans)?

Medicare Part D, also called the Medicare prescription drug benefit is an optional program to help Medicare beneficiaries pay for self-administered prescription drugs. By purchasing a Medicare approved prescription drug plan through a private insurance company, these plans can help you drastically reduce out-of-pocket expenses at the pharmacy. Each insurance company offering prescription drug plans is mandated by Medicare to cover specific prescriptions. Professionally administered prescriptions (infusion drugs) are covered under Medicare Part B.  

Part D prescription drug plans can be purchased to compliment your Medicare Supplement (Medigap) plan or sometimes they are included with a Medicare Advantage plan. Part D plans are based on a calendar year. All plans renew on December 31. You have an opportunity to change plans each year during the Medicare Annual Enrollment Period (October 15 – December 7).  

These plans are designed to lower your prescription costs and protect you against higher costs. Each plan that offers prescription drug coverage through Medicare Part D must give at least a standard level of coverage that is set by Medicare. Plans vary by their formulary and tiers on their formulary.

– Medicare Part D –

 Medicare Part D Questions & Answers

Who Qualifies for Medicare Part D?

Who Qualifies for Medicare Part D?

In order to be eligible for a Medicare Part D (prescription drug plan), you must meet each of the following requirements: You must be enrolled in both Part A and Part B of...

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