Medicare offers prescription drug coverage for everyone with Medicare. This is called "Part D." This coverage may help lower prescription drug costs and help protect against higher costs in the future. It can give you greater access to drugs that you can use to prevent complications of diseases and stay well.
If you join a Medicare drug plan, you usually pay a monthly Premium . Part D is optional. If you decide not to enroll in a Medicare drug plan when you are first eligible, you may pay a Penalty (see Choosing Medicare Prescription Drug Coverage for the First Time) if you choose to join later. These plans are run by insurance companies and other private companies approved by Medicare.
There are two ways to get Medicare prescription drug coverage:
Join a Medicare plan (like an HMO or PPO) that includes prescription drug coverage as part of the plan. You get all of your Medicare coverage through these plans, including prescription drugs.
Both types of plans are called Medicare drug plans in this section.
Medicare offers help to employers and unions to help pay for prescription drug coverage. If you have employer or union drug coverage, see Employer or Union Health Coverage. Joining a Part D plan could end the retiree health benefits you and your family get. Talk to your benefits administrator.
Learn more about the Medicare Part D program by selecting a topic below:
(Primary Source: Centers for Medicare and Medicaid Services - Medicare and You Handbook. This content may have been enhanced by Q1Group LLC to include further examples, explanations, and links.)
Medicare Supplements fill the gaps in your Original Medicare