Medicare Part D

Part D prescription drug coverage is offered through private insurance companies with a contract from Medicare..

Medicare prescription drug coverage (Part D) is coverage that adds to, or is included with, your Medicare health care coverage. It helps you pay for both the brand-name and generic drugs you need. Medicare drug plans are offered by insurance companies and other private companies approved by Medicare. 

There are two ways to get Medicare prescription drug coverage:

Stand Alone Prescription Drug Plans (sometimes called PDPs)

This insurance adds prescription drug coverage to Original Medicare, some Medicare Private Fee-for-Service (PFFS) Plans, some Cost Plans, and Medical Savings Account (MSA) Plans. 

Medicare Advantage Plans

(like an HMO or PPO) or other Medicare health plans that offer prescription drug coverage. You generally get all of your Medicare Part A (Hospital Insurance) Medicare Part B (Medical Insurance), and Part D coverage through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called “MA-PDs.”. You must choose and join a Medicare drug plan to get Medicare prescription drug coverage.

Everyone enrolled in Medicare has a decision to make about prescription drug coverage. If you don’t use a lot of prescription drugs now, you should still consider joining a Medicare drug plan. There is a penalty for every month that you do not sign up for part D, from your first month of eligibilty. This coverage may help lower your prescription drug costs and help protect against higher costs in the future. If you are new to Medicare and have prescription drug coverage now, you have new choices to consider. If you are not new to Medicare, you have the opportunity to review your options for drug coverage and join or switch Medicare drug plans between October 15–December 7 each year.