Medicare Part D Plan Explained

Medicare Part D is coverage that assists Medicare recipients with the cost of prescription medications. Medicare uses private companies to administer the two types of plans available under Medicare Part D.

Eligibility

• Medicare Part D is available to anyone enrolled in Medicare. To participate in a Prescription Drug Plan, you are required to have Medicare Part A and/or Part B. You must have Medicare Part A and Part B to enroll in a Medicare Advantage Plan.

Prescription Drug Plans

• Prescription Drug Plans, also known as PDPs, are available to those with Original Medicare and Medicare Medical Savings Account Plans as well as some recipients enrolled in Medicare Cost Plans and Medicare Private Fee-for-Services Plans.

Medicare Advantage Plans

• Similar to a HMO or PPO, Medicare Advantage Plans or MA-PDs provide Part A and Part B coverage plus Part D prescription drug coverage.

Enrollment

• To enroll in Medicare Part D, you must contact the plan you want to join. Medicare forbids the private companies that oversee the drug plans from contacting you about enrollment.