Medicare Part D, also called the Medicare prescription drug benefit, is a Federal program to subsidize the costs of prescription drugs and prescription drug insurance premiums for Medicare beneficiaries.
Individuals on Medicare are eligible for prescription drug coverage under a Part D plan if they are signed up for benefits under
Medicare Part A and/or Part B. Beneficiaries may obtain the Part D drug benefit through two types of plans administered by private insurance companies:
1.) a standalone Prescription Drug Plan (PDP) for drug coverage only; or
2.) a Medicare Advantage (Medicare Part C) plan that jointly covers all hospital and medical services covered by Medicare Parts A and B at a minimum, and typically covers additional healthcare costs not covered by Medicare Parts A and B including prescription drugs (MA-PD).
* Medicare beneficiaries must be enrolled for both Parts A and B to select Part C – a Medicare Advantage plan. About two-thirds of all Medicare beneficiaries are enrolled directly in Part D or through a Medicare Advantage plan.
Security and Peace of Mind
Senior Insurance General Request for Information
Speak with a Harman Stone Associate.
We’re very eager to be of service to you and your family.