Prescription Drugs ( Part D )

Part D of Medicare provides prescription drug coverage to eligible individuals. This program aims to help manage the costs of medications, making essential prescriptions more affordable for beneficiaries.

Under Part D, plans are offered by private insurance companies that are approved by Medicare. Each plan has a unique formulary, which is a list of covered drugs, and varies in premiums, deductibles, and co-pays. When choosing a plan, it is important to consider the medications you take regularly and confirm that they are included in the plan's formulary.

Enrollment in a Part D plan can occur during the Initial Enrollment Period when you first become eligible for Medicare, as well as during the Annual Enrollment Period, which typically runs from October 15 to December 7 each year. It's essential to review your Part D options annually, as your health needs, financial situation, or plan offerings may change.

To minimize out-of-pocket costs, beneficiaries should also be aware of potential assistance programs, such as Extra Help, which may be available for those with limited income and resources. Understanding the features and details of Part D can help ensure you select a plan that best meets your prescription drug needs.