Medicare Part D

What is Medicare Prescription Drug Coverage? Medicare offers prescription drug coverage for everyone with Medicare insurance. This is called “Part D.” This coverage may help lower prescription drug costs and help protect against higher costs in the future.

If you join a Medicare insurance drug plan, you usually pay a monthly premium. Part D is OPTIONAL. Although if you decide not to enroll when you are first elligile and later decide to join you may have to pay a penalty. These plans are run by insurance companies and other private companies approved by Medicare.

There are two ways to get Medicare Prescription Drug coverage:
  1. Join a Medicare Prescription Drug Plan that adds drug coverage to the Original Medicare Plan, some Medicare Cost Plans, some Medicare Private Fee-for-Service Plans, and Medicare Medical Savings Account Plans.
  2. Join a Medicare insurance plan (like an HMO or PPO) that includes prescription drug coverage as part of the plan. You get all of your Medicare insurance coverage through these plans, including prescription drugs.