Medicare Part D
Medicare Part D is a federal program designed to help Medicare beneficiaries pay for prescription drugs. Introduced in 2006, Part D is available to anyone who has Medicare, regardless of income, health status, or prescription drug usage. This program provides coverage through private insurers rather than directly from the government.
Medicare Part D: Your Guide to Prescription Drug Coverage
Understanding Medicare Part D
How Medicare Part D Works
Medicare Part D adds prescription drug coverage to:
- Original Medicare (Parts A and B)
- Some Medicare Cost Plans
- Some Medicare Private-Fee-for-Service (PFFS) Plans
- Medicare Medical Savings Account (MSA) Plans
Part D plans are offered by Medicare-approved private insurers and can vary in terms of cost, coverage, and which drugs are covered.
Benefits of Medicare Part D
Types of Plans
Benefits of Medicare Part D
Advantages of Enrolling in Part D
- Lower Prescription Costs:
Reduces the cost of prescription drugs, which can be one of the most significant healthcare costs for seniors. - Comprehensive Drug Coverage:
Covers a wide range of prescription drugs, including most drugs most commonly needed by Medicare beneficiaries. - Protection Against Rising Drug Prices:
Provides peace of mind by covering escalating medication costs over time.
Types of Plans
Choosing the Right Medicare Part D Plan
- Standalone Prescription Drug Plans (PDPs)
For those who have coverage under Original Medicare, a PDP can add drug coverage. - Medicare Advantage Plans with Prescription Drug Coverage (MA-PDs)
Some Medicare Advantage plans include prescription drug coverage. You get all your Medicare health and prescription drug coverage from a single plan.
