Medicare Part D Prescription Drug Coverage

Medicare Prescription Drug plans subsidize the cost of prescription drugs for Medicare beneficiaries. To qualify for a Medicare Part D Prescription Drug plan, prospective beneficiaries must already be signed up for benefits under Medicare Part A and/or Part B. Medicare Part D Prescription Drug plans are offered by Medicare-approved private insurance companies. The monthly premium of each Medicare Part D Prescription Drug plan may differ. Medicare Prescription Drug plans have a formulary which is a list of covered drugs. Part B premiums still need to be paid if the consumer has Original Medicare.

Some Part C/Medicare Advantage plans include prescription drug coverage that follows the same rules as the Medicare Part D coverage. This Medicare Advantage Prescription Drug (MA-PD) coverage provides an integrated benefit covering their hospital, physician, and drug costs. To qualify for a MA-PD plan you must be entitled to Medicare Part A and enrolled in Part B.

Some of the organizations providing plans with these benefits include: Humana^®, UnitedHealthcare^®, Anthem Blue Cross and Blue Shield^®. Not all plans offer all of these benefits. Benefits may vary by carrier and location. Limitations and exclusions may apply.