This video explains Medicare Part D – which helps pay for the cost of prescription drugs through private insurance companies. Many people are often surprised to learn that Original Medicare (Parts A and B) doesn’t cover prescription drugs.
But you can get Part D either as a stand-alone plan OR included in a Medicare Advantage Prescription Drug plan — depending on your needs and what’s available in your area.
Here’s how Part D works:
- It is optional, but if you want it you have to enroll.
- Depending on your situation, you can sign up for Part D when you first become eligible for Medicare – which for most people is when you turn 65.
If you decide to wait, you could end up paying a higher monthly premium.
To be eligible for Medicare Part D plans:
- You must be entitled to Part A or enrolled in Part B
- You must permanently reside in the plan’s service area
For more information about Medicare, contact us at 1-941-405-3900.