Choose Prescription Coverage Around Your Medications
Medicare Part D plans help cover outpatient prescription drugs. The best fit depends on your exact medications, pharmacies and total yearly costs.
How Medicare Part D works
Private Medicare-approved insurers offer Part D coverage. You can buy a standalone prescription drug plan to use with Original Medicare, or receive drug coverage through many Medicare Advantage plans.
Formulary
Each plan has its own covered-drug list. Check every medication, dosage and form—not merely the drug name.
Pharmacies
Costs may differ between standard, preferred and out-of-network pharmacies. Confirm the exact pharmacy status.
Plan rules
Look for prior authorization, step therapy and quantity limits, and compare premiums, deductibles and copayments.
A better way to compare plans
Build your medication list
- Exact prescription name and dosage
- How often it is filled
- Preferred local and mail-order pharmacies
Estimate total cost
- Monthly premium and deductible
- Expected copayments or coinsurance
- Coverage restrictions and pharmacy pricing
Avoiding a late-enrollment penalty
If you go without Part D or other creditable prescription coverage for 63 consecutive days or more after you are eligible, you may owe a late-enrollment penalty when you later enroll. Keep notices showing whether employer, union or other drug coverage is creditable.
Learn about Medicare enrollment periods, Medicare Advantage, and Medicare Supplement.
Medicare Part D questions
Do I need Part D if I take no prescriptions?
That is a personal decision, but delaying without other creditable drug coverage can result in a late-enrollment penalty later.
Are all medications covered?
No. Each plan has a formulary. Check your exact prescriptions and any restrictions before enrolling.
Can I have standalone Part D with Medicare Advantage?
Usually not if the Medicare Advantage plan already includes drug coverage. Enrolling in a separate drug plan can affect your Advantage enrollment.
Can I change Part D plans?
You can generally change during Medicare’s Annual Enrollment Period and may qualify at other times through a Special Enrollment Period.
Want a prescription-based comparison?
A licensed Precise Insurance agent can review available plans using your medications and preferred pharmacies.
Precise Insurance Group is not connected with or endorsed by the U.S. government or the federal Medicare program. Plan formularies, pharmacies and costs vary. For complete Medicare information, visit Medicare.gov or call 1-800-MEDICARE.