Medicare Part D plans are offered through private insurance companies and provide help with the cost of prescription drugs. These plans may be purchased either as a stand-alone plan or as part of a Medicare Advantage prescription drug plan (MAPD).
Medicare Part D plans have monthly premiums, which vary by plan. These plans can and do change from year to year. You must always continue to pay your monthly Part B premium.
To be eligible for Part D, you must:
- be enrolled in Medicare Part A or B
- permanently live in the plan’s service area
Each Medicare Part D plan varies by their formulary, which is the list of specific drugs it covers. The formulary can change each year, which is why it is important to look at the medications you’re currently taking to ensure they are on the list of covered drugs of your Part D plan.
If you have questions about Medicare Part D, we’re here to help. Contact us anytime at (941) 405 – 3900.