Prescription Drug Plans

Medicare drug coverage is available to all Medicare beneficiaries and can help cover the cost of necessary prescription drugs. It is optional, but even if you do not currently take prescription drugs, it is recommended that you consider enrolling in a Medicare-approved plan. If you delay enrollment and do not have other creditable prescription drug coverage, you may be subject to a late enrollment penalty. This penalty will likely be in effect for as long as you have Medicare drug coverage. To obtain Medicare drug coverage, you must enroll in a Medicare-approved plan that offers drug coverage. Costs and specific drugs covered may vary between plans.

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To obtain Medicare drug coverage, there are two options available. The first is through a Medicare drug plan, which can be added to Original Medicare, certain Medicare Cost Plans, some Private Fee-for-Service plans, and Medical Savings Account plans. To enroll in a separate Medicare drug plan, you must have Medicare Part A (Hospital Insurance) and/or Medicare Part B (Medical Insurance). The second option is to join a Medicare Advantage Plan (Part C) or another Medicare Health Plan that includes drug coverage. These plans offer coverage for Part A, Part B, and drugs. It's important to note that to join a Medicare Advantage Plan, you must have Part A and Part B, and not all of these plans provide drug coverage.

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