MEDICARE PRESCRIPTION DRUG COVERAGE (KNOWN AS MEDICARE PART D)
If you have Medicare Parts A and/or B, Part D plans can be purchased separately to help cover your prescription drug costs. These plans are offered by Medicare-approved private insurers – so costs and covered drugs vary from plan to plan.
MORE ABOUT MEDICARE PART D:
Part D works with a Medicare supplement insurance plan, or on its own
You can also get Part D benefits through some Part C plans.
MEDICARE PART D PAYS:
Covered prescriptions included on the formulary (a list of covered drugs based on the plan selected)
Varying shares of other covered prescription costs until you reach the coverage gap
Most of the other covered prescription costs after you are out of the coverage gap
Varying shares of covered prescription costs, until you reach the coverage gap
Varying shares of the cost of generic and brand name drugs while in the coverage gap
Low or zero copays or coinsurance for prescription drug costs, after you are out of the coverage gap