What is Medicare Part D prescription drug coverage?
As a Medicare beneficiary, you don’t automatically get Prescription Drug coverage. This coverage is optional but can be valuable if you take medications. If you don’t sign up for Medicare Part D Coverage when you’re first eligible, you might have to pay a late-enrollment penalty if you decide to enroll later.
Many people are automatically enrolled in Original Medicare when they reach the age of 65, but may not realize that Original Medicare doesn’t cover medications.
You can get Medicare Part D prescription drug coverage in two different ways:
- Through a stand-alone Medicare Part D Prescription Drug Plan – you can add this benefit to your Original Medicare coverage.
- Through a Medicare Advantage plan – you can get a Medicare Advantage (Part C) plan that includes prescription drug coverage.
