Prescription Drug Coverage is also known as Medicare Part D
Medicare Part D helps cover the cost of prescription drugs. These plans are obtained through private insurance companies that have an annual contract with Medicare. Although there are many plans available, what is most important is to ensure the plan you choose covers the medicines you take. There are two ways to get Part D coverage:
1. A separate (stand-alone) drug plan - monthly premiums vary.
2. Included in a Medicare Advantage Plan - any premium will be included in the total cost of your all-in-one plan.
It is important to note that all plans do not cover the same drugs and may change what they cover and/or drug tier each year. Each open enrollment it’s a good idea to check for changes.