Part D Prescription Plans

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 Medicare drug coverage that helps pay for prescription drugs you need. Even if you don’t take prescription drugs now, you should consider getting Medicare drug coverage. Medicare drug coverage is optional and is offered to everyone with Medicare. If you decide not to get it 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. To get Medicare drug coverage, you must join a Medicare-approved plan that offers drug coverage. Each plan can vary in cost and specific drugs covered.  

 There are 2 ways to get Medicare drug coverage:

Stand-alone Drug Plan- These plans add drug coverage to Original Medicare, some Medicare Cost Plans, some Private Fee‑for‑Service Plans, and Medical Savings Account Plans.

You must have Medicare Part A and/or Medicare Part B to join.

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Medicare Advantage Plan (Part C) or other Medicare health plan with drug coverage. You get all of your Part A, Part B, and drug coverage, through these plans.

Remember, you must have Part A and Part B to join a Medicare Advantage Plan, and not all of these plans offer drug coverage

All plans must cover a wide range of prescription drugs that people with Medicare take.  Information about a plan’s list of covered drugs has its own formulary.

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Medicare drug plans and Medicare health plans with drug coverage place drugs into different levels called “tiers” on their formularies. Drugs in each tier have a different costs. For example, a drug in a lower tier will generally cost you less than a drug in a higher tier.