Medicare Plan Part D (Prescription Drug Plan)

Medicare Plan Part D is a prescription drug coverage insurance plan that covers both generic and brand-name prescription drugs. Part D coverage is provided by private companies that are approved by Medicare.

Most people do have to pay a premium for this Part D coverage. Plans vary and cover different drugs, but all medically necessary drugs are covered. You can choose what drug plan will be best meet your needs. You do need to enroll when you first become eligible for Medicare in order to keep from paying a penalty cost later. Part D was designed to help people with Medicare to lower their prescription drug costs and to protect against future costs. A prescription drug plan will also enable you to have greater access to medically necessary drugs.

There are two ways to join the Medicare Part D prescription drug coverage plan. The first is by adding it to your Original Medicare Plan or some Medicare cost plans, private fee-for-service plans, and Medical savings account plans. The second way is to join an HMO or PPO plan that includes Medicare Part D coverage. You will usually have to pay a monthly premium that will vary according to the plan you choose.

You should consider getting Medicare Part D to protect yourself from unexpected drug expenses. Even if you don't use a lot of prescription drugs now, you should still consider joining. As we age, most people need prescription drugs to stay healthy. For most people, joining now means protection from unexpected prescription drug bills in the future.