Prescription Drug Plans
What is Medicare Prescription Drug Coverage?
Medicare Part D prescription drug coverage is offered through Medicare-approved private insurance companies. You can receive Part D coverage through a stand-alone prescription drug plan (PDP) or included in a Medicare Advantage prescription drug plan (MAPD).
What does Medicare Part D covers?
Brand-name & generic medications
Coverage varies by plan; each plan has a formulary that lists the drugs that are covered by that plan
What costs are you responsible for when enrolling in a Part D plan?
Your Part D plan monthly premium
If you do not sign up for Part D coverage as soon as you are eligible, you may pay a penalty when you do enroll
Out-of-pocket costs such as copays, coinsurance, and deductibles associated with the prescription drug plan that you choose
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