Medicare Prescription Drug Plans | Part D
Understand Your Medicare Prescription Drug Options
The Medicare Prescription Drug Plans | Part D section* provides an overview of Medicare prescription drug coverage, also known as Medicare Part D, which helps cover the cost of prescription medications.
Prescription drug coverage is available through a stand-alone Prescription Drug Plan (PDP) for people with Original Medicare and is also included in many Medicare Advantage plans.
Plans may differ by covered medications, pharmacies, premiums, deductibles, and other costs.
Choosing a Prescription Drug Plan
When comparing plans, consider more than the monthly premium. Important factors may include:
- Whether your prescriptions are covered
- Drug formulary and tier placement
- Participating and preferred pharmacies
- Premiums, deductibles, copayments, and coinsurance
- Coverage requirements or restrictions
You can Explore & Enroll online or request help from a Medicare Advisor and licensed insurance agent.
If you would like assistance—or want to work with a specific Agent Advisor—complete the inquiry form below.
When Can You Enroll?
Medicare drug coverage can generally be added or changed during certain Medicare enrollment periods.
Initial Enrollment Period
When you first become eligible for Medicare, you may generally enroll in Medicare drug coverage during your Initial Enrollment Period.
Annual Enrollment Period (AEP) | Medicare Open Enrollment
October 15 – December 7
During this annual period, eligible beneficiaries with Original Medicare may generally:
- Join a Medicare Prescription Drug Plan
- Switch to another drug plan
- Drop Medicare drug coverage
Changes generally take effect January 1 of the following year.
Special Enrollment Periods
Certain circumstances—such as moving, losing eligible coverage, or qualifying for certain assistance—may allow you to make changes outside the regular enrollment periods.
If you are unsure whether you qualify, an Agent Advisor can help you review your options.
Avoid a Part D Late Enrollment Penalty
If you go 63 days or more without Medicare drug coverage or other creditable prescription drug coverage after becoming eligible, you may have to pay a Part D late enrollment penalty.
If you have prescription coverage through an employer, union, VA, TRICARE, or another source, confirm whether it is considered creditable before making changes to your coverage. Medicare identifies several of these as possible sources of creditable coverage.
Before Selecting a Plan
Before enrolling, consider whether:
- Your prescriptions are covered
- Your pharmacy participates
- Your medications are placed in appropriate formulary tiers
- The plan's costs fit your needs
- Coverage requirements apply to your medications
Because plan formularies, pharmacies, and costs can change, it is important to review your prescription drug coverage each year.
Explore & Enroll or Request Assistance
US Medicare Advisor gives you two ways to move forward.
You may Explore & Enroll online, or request assistance from a Medicare Advisor and licensed insurance agent.
If an Agent Advisor referred you to US Medicare Advisor—or you already know the Agent Advisor you would like to work with—enter that person's name on the inquiry form.
Important Disclaimers
- No Guarantee of Coverage: Enrollment into a Prescription Drug Plan (PDP) can be subjected to underwriting approval and state-specific enrollment rules and guidelines. The completion of an application may not guarantee acceptance into a plan.
- Carrier-Specific Rules: Each insurance carrier may have different rules, pricing, and underwriting requirements. An agent advisor will help you find the best fit based on your health history and needs, but final approval rests with the insurance carrier.
- Call for Personalized Assistance: While we strive to provide comprehensive information online, the nuances of Medicare Advantage enrollment make it essential to speak with a Medicare advisor and licensed agent, who can offer personalized advice and support.
Easily Connect: Call or Submit Inquiry Form
We understand that discussing insurance options over the phone can sometimes feel daunting. Rest assured, licensed Medicare advisors and licensed agents can help you in a professional, respectful, and supportive manner. Finding the right professional and solution is one of our top priorities.
Please don’t hesitate to call 877-977-7026—a Medicare advisor and licensed agent is available to assist you every step of the way. Please fill out the following 'INQUIRY FORM' to request assistance in finding the right solution.
