Part D helps cover the cost of prescription drugs, including many recommended shots and vaccines.
If you have Original Medicare (Part A and Part B), you can buy a standalone Part D plan from a private insurance company to cover the cost of your prescription drugs.
Most Medicare Advantage, or Part C, plans have Part D built in.
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Some things to think about with Medicare Part D
- Part D plans charge a monthly premium, which can vary by plan. You’ll also have costs like deductibles and copayments.
- Each plan has its own drug list (called a formulary), so make sure the plan you choose covers the prescriptions you take.
- Check if your local pharmacy is in the plan’s network. Using preferred pharmacies may save you money.
- Part D plans can change their costs and drug lists every year. It’s a good idea to review your coverage during Medicare’s Open Enrollment (October 15–December 7).
Did you know?
Part D carries a late enrollment penalty. If you don’t sign up when you become eligible for Medicare in your 65th year, and you don’t already have other creditable drug coverage (like from an employer or union plan), Medicare will add a late enrollment penalty to your Part D premium. This penalty is permanent; you will have to pay it every month for as long as you have Part D.
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