Medicare Part D Prescription Drug Coverage

Medicare Part D prescription drug coverage is offered to everyone who has Medicare Part A or B. Even if you do not use prescription drugs currently, you should consider joining a Medicare drug plan. If you decide not to join a Medicare drug plan when you’re first eligible, and you don’t have other creditable prescription drug coverage or get Extra Help, you’ll likely pay a late enrollment penalty if you join a plan later. Generally, you’ll pay this penalty for as long as you have Medicare prescription drug coverage.

To get Medicare prescription drug coverage:

You must join a plan approved by Medicare that offers Medicare drug coverage. They are offered by many different insurance carriers.  Each plan can vary in cost and specific drugs covered. There are 2 ways to get Medicare prescription drug coverage:

1. Medicare Prescription Drug Plans- These plans (sometimes called “PDPs”) add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) plans, and Medicare Medical Savings Account (MSA) plans. You must have Part A and/or Part B to join a Medicare Prescription Drug Plan.
2. Medicare Advantage Plans- these plans usually include drug coverage. You get all of your Part A, Part B, and prescription drug coverage (Part D), through these plans. In either case, you must live in the service area of the Medicare drug plan you want to join.