Medicare Prescription Drug Plans

Medicare Part D is Medicare’s prescription drug plan that provides coverage for certain drugs. Part D can be purchased as a standalone plan while receiving Original Medicare coverage. It can be bought with a Medicare Advantage Plan as an additional benefit.

What does Part D cover?

Part D is required to cover a list of medications (formulary), specifically two drugs of each class. Part D must also cover common vaccines and most, if not all, of these specific prescriptions:

Antidepressants, antipsychotics, and anticonvulsants
Anti-cancer drugs
Immunosuppressants
HIV/AIDS drugs

Part D will not cover:

Weight loss/gain medication
Fertility medication
Erectile dysfunction medication
Cosmetic drugs
Over-the-counter (OTC) medications

To ensure that your needed medications are covered with a specific plan, contact a licensed agent, like the ones at Senior Savings USA, to go over the plan’s formulary.

Free Consultation

By submitting this information you acknowledge licensed insurance agents may contact you by phone, email or mail will discuss Medicare Advantage Plans, Medicare Supplement Plans, or Prescription Drug Plans.

Part D Costs

Some Part D plans may not require a deductible, but if there is a deductible, the plan cannot go over a limit of $435 in 2020. Because the plan will not offer full coverage until the deductible is met, you will pay a discounted price for your prescriptions.

The Part D premium cost varies by plan and your income. Deductibles, copayments, and coinsurance also vary by plan.

Part D Eligibility

You are eligible for Part D once you are enrolled in Original Medicare. If you need prescription drug coverage, reach out to a licensed agent at Senior Savings USA today.