Medicare Part D — Medicare Prescription Drug Coverage

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Medicare Part D — Medicare Prescription Drug Coverage

Medicare Part D helps you pay for your prescription drugs. Medicare Part D plans are offered by private insurers, and cost and coverage may vary by plan.

In general, there are 2 ways to get Medicare Part D prescription drug coverage:

  • Medicare Advantage Plans are offered by private insurers. These plans often include Medicare Part D costs in their premiums.
  • Medicare Prescription Drug Plans (PDP) are stand-alone plans offered by private insurers that provide drug coverage to individuals with Original Medicare A and B.

Medicare Part D Eligibility

To be eligible for Medicare Part D, you must:

  • Be entitled to Medicare benefits under Medicare Part A and/or enrolled in Medicare Part B
  • Reside in the Part D plan's service area
  • Not be enrolled in more than one Medicare Part D plan at a time

If you are under 65 with a disability, you may also be eligible to enroll.

Medicare Part D Enrollment

Medicare Part D Initial Enrollment, Annual Enrollment and Special Enrollment periods are the same as Medicare A and B.

Medicare Part D Late Enrollment Penalty

If you choose not to enroll in a Medicare Part D plan at the same time you are eligible to enroll in Medicare Part A and/or Part B and you have not had creditable coverage for 63 continuous days or more, the federal government may impose a late enrollment penalty.

The penalty amount changes every year and you will be required to pay it as long as you have Medicare prescription drug coverage.

More about enrolling in Medicare