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What is Medicare Part D (Prescription Drug Coverage)?
Medicare Part D is prescription drug coverage that you can choose to add to your Original Medicare. Many Medicare Advantage plans include Part D coverage among their benefits. Under Original Medicare (with or without a Medicare Supplement/Medigap plan), you will need to seek out a Part D standalone plan which you can do here through Med-Care Senior Insurance Solutions. For the most part, Part D plans either discount your drug cost or require a copay that may vary based on the drug being purchased. Your selected plan will require you to use pharmacies in their network.
What Medicare Part D Drug Plans Cover
All plans cover a wide range of prescription drugs that people with Medicare take, including most drugs in certain protected classes, like drugs to treat cancer or HIV/AIDS. A plan’s list of covered drugs is called a “formulary,” and each plan has its own formulary. Participation in a Part D prescription drug plan is available to nearly anyone enrolled in Medicare A and B, but it is not mandatory.
It is a Good Idea to Enroll in Medicare Plan D if:
- You regularly take prescription drugs
- You do not already have creditable prescription drug coverage elsewhere
- Your health/family history leads you to believe you will need to take a prescription drug in the future
- You are having difficulty affording your prescription drugs.
For more information about our Medicare Part D Plans, or to schedule an appointment, call us at 575-208-8824.