Medicare Prescription Drug Coverage
(Also 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. Your drug coverage needs to be reviewed every year as companies change their formularies yearly. Just because one company was best for you the previous year, does not mean it is the best company for your particular medications the next year. Call our licensed professionals at Senior Watchdog for a free review at 815-223-9394.
- 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.
Copayment: A kind of cost sharing where you pay a pre-set, fixed amount for each service. Sometimes called “copay.”
Premium: A fixed amount you have to pay for an insurance plan; usually as a monthly payment.