Prescription Drug Coverage - Part D

Understanding Part D:
Prescription Drug Coverage Explained

Medicare Part D

Medicare Part D: Coverage for Prescription Drugs with Original Medicare

Medicare Part D is a program designed to help cover the costs of prescription drugs for those with Original Medicare. Managed by private Medicare-approved insurers, Part D plans offer varying coverage for commonly used brand-name and generic drugs but do not cover over-the-counter medicines.

To receive Part D services, you must enroll in a private plan. This can be done as a stand-alone plan if you have Original Medicare or as part of a Medicare Advantage plan (known as Medicare Part C), which also includes hospital and medical coverage.

It is important to note that most Medicare drug plans have a coverage gap, where coverage stops after you and the plan have spent a certain amount on prescriptions. At this point, you are responsible for a large share of future prescription costs until you reach a predetermined amount. If you exceed the coverage gap, you can purchase brand-name and generic drugs at a discounted price.

Higher-income Medicare recipients may pay a monthly income-related premium for Part D benefits, in addition to the federal government premium cost. Other costs may include an annual deductible and coinsurance or copayments.

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