Medicare Part D Prescription Drug Plans
Medicare Part D helps cover the cost of prescription drugs, offering beneficiaries an affordable way to access medications. Part D plans are provided by private insurance companies approved by Medicare and can be added to Original Medicare or some Medicare Advantage plans that don’t already include drug coverage.
Benefits of Part D Plans
With a Part D plan, you gain access to comprehensive drug coverage, reducing your out-of-pocket costs on prescription medications. Depending on the plan you choose, coverage may include:
- A variety of generic and brand-name medications.
- Access to a wide network of pharmacies and mail-order services.
Choosing the Right Plan
Choosing a Part D plan can depend on the specific medications you take and your budget. It’s essential to review each plan’s formulary and understand what’s covered. You can change your plan during the Annual Enrollment Period from October 15 to December 7, or during special enrollment periods if you qualify.
Avoiding Late Enrollment Penalties
It’s important to enroll in a Part D plan when you’re first eligible to avoid late enrollment penalties. If you do not have creditable prescription drug coverage and delay enrolling, you may face a permanent premium surcharge.
Need Help Finding the Right Plan?
Contact us to review your current prescriptions and evaluate your plan options. Our team will help you find a Part D plan that fits your needs and ensures you’re getting the best coverage at an affordable rate.
By completing the form above, I understand that a licensed insurance agent from Gemstone Life & Health Insurance Services may contact me via phone, email or mail to discuss Medicare Advantage Plans, Prescription Drug Plans, Medicare Supplement Insurance and/or Individual & Family Plans. Calls may be made by auto dialer, text, or robocall and are for marketing purposes. Cellular carrier charges may apply. Providing permission does not impact eligibility to enroll or the provision of services.