PART D
MEDICARE PART D is prescription drug coverage offered by Medicare. Medicare offers prescription drug coverage to everyone with Medicare. If you decide not to join a Medicare Prescription Drug Plan when you're first eligible, and you don't have other creditable prescription drug coverage, or you don't get Extra Help, you'll likely pay a late enrollment penalty. To get Medicare drug coverage, you must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered.
You have only (2) ways to get Medicare Part D coverage:
One key thing to remember, if your Medicare Advantage Plan (Part C) includes prescription drug coverage and you join a Medicare Prescription Drug Plan (Part D), you'll be disenrolled from your Medicare Advantage Plan and returned to Original Medicare.
You have only (2) ways to get Medicare Part D coverage:
- Medicare Prescription Drug Plan (Part D). These plans (sometimes called "PDPs") add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans.
- Medicare Advantage Plan (Part C). Some Medicare Advantage Plans offer Medicare prescription drug coverage, but not all do. If you plan on joining a Medicare Advantage Plan want prescription drug coverage make sure that it is offered under the plan. If the prescription drugs are covered, you'll get all of your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage, and prescription drug coverage (Part D), through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called “MA-PDs.” You must have Part A and Part B to join a Medicare Advantage Plan.
One key thing to remember, if your Medicare Advantage Plan (Part C) includes prescription drug coverage and you join a Medicare Prescription Drug Plan (Part D), you'll be disenrolled from your Medicare Advantage Plan and returned to Original Medicare.