What is Medicare Part D?
Medicare Part D is a prescription drug plan (PDP) to may help you lower prescription drug expenses and possibly shield against higher drug costs in your future.
Anyone with Medicare Part A and/or Part B can join a Medicare Prescription Drug Plan offered in your area. If you are in a Medicare Advantage Plan, your plan may also offer drug coverage.
Part D drug benefit through two types of plans administered by private insurance companies.
Source: Center for Medicare and Medicaid Services (CMS)
Who can get Medicare Part D?
Persons with Medicare Part A and/or Part B can join a Medicare Prescription Drug Plan offered in your area of North Carolina.
How much does Medicare Part D Cost?
Premium and out-of-pocket expenses for prescription drugs will vary. Each insurer offers different types of Medicare Part D plans. You typically pay a monthly premium to be covered under the plan.
How does it Medicare Part D Work?
- You pay the full amount of your prescription drugs until your deductible is met.
- You pay a percentage of drug costs after your deductible is met.
- No more than 5 percent of your drug costs in the “catastrophic period” of coverage -after you’ve reached the out-of-pocket spending limit.
Source: AARP
