Medicare Part D – Prescription Drug Coverage
Medicare Part D helps cover the cost of prescription drugs and is available to anyone with Medicare. You can get Medicare drug coverage in two ways:
Standalone Medicare Prescription Drug Plan (PDP) – Adds drug coverage to Original Medicare.
Medicare Advantage Plan (Part C) – Most include drug coverage (MAPD).
Each plan has its own list of covered drugs (formulary), cost-sharing rules, and pharmacy networks, so it’s important to compare options.
What You Need to Know:
Monthly Premium: Varies by plan and income.
Deductibles and Copays: Costs differ based on the plan and the medications you use.
Formulary: Not all plans cover the same drugs. Formularies may change from year to year.
Pharmacy Network: Plans may require you to use certain pharmacies for the lowest cost.
Enrollment Periods:
Initial Enrollment Period: Begins when you’re first eligible for Medicare.
Annual Enrollment Period: October 15 – December 7 each year.
Special Enrollment Periods: May apply if you qualify due to life events such as moving or losing other coverage.
Failing to enroll when you’re first eligible may result in a late enrollment penalty.
Need Help With Medicare Part D?
Choosing the right Part D plan can save you money and ensure you get the medications you need. Our licensed agents are here to walk you through your options and find a plan that aligns with your prescriptions and budget.
📞 Call me at 864-686-7201 Today!
We are not affiliated with or endorsed by the U.S. government or the federal Medicare program. This is a solicitation of insurance. Contact may be made by a licensed insurance agent.