Social Security Medicare Part D Information

Medicare Part D is an insurance plan that covers both generic and nongeneric drug prescriptions for people enrolled in Medicare. Participating in this program is voluntary, and there are monthly premiums that must be paid to participate and whose amount depends on your income.

Function

• Medicare Part D helps offset the cost of prescription drugs for people on Medicare medical hospital insurance (part A), Medicare Advantage medical insurance (part B) and the Medicare Advantage plan (part C). If you are already enrolled in any of these Medicare plans, you are automatically eligible for Medicare Part D.

Enrollment

• You should apply for Medicare Part D as soon as you are eligible; if you delay in signing up for this plan you may be required to pay a penalty. The Medicare website states, "You may sign up when you first become eligible for Medicare (three months before the month you turn age 65 until three months after you turn age 65)." People on Social Security Disability can join the plan three months before or after their 25th month of cash disability payments.

Low-Income

• There is help for people with low incomes who cannot afford to pay the Medicare Part D monthly premium. This help is issued by state, and therefore varies according to where you live. The Social Security website states, "To qualify, you must have Part A (hospital insurance), a limited income, and, in most states, your resources, such as bank accounts, stocks and bonds, must not be more than $4,000 for a single person or $6,000 for a couple." To see if you qualify, contact your state Medicaid office.