Medicare Part D

Medicare Part D covers outpatient prescription drugs through private plans that contract with Medicare, including stand-alone prescription drug plans (PDPs) and Medicare Advantage plans with prescription drug coverage (MA-PDs).

Part D benefit helps pay for enrollees’ drug costs and provides coverage for very high drug costs. Additional financial assistance is available for beneficiaries with low incomes and modest assets. Enrollees pay monthly premiums and cost sharing for prescriptions, with costs varying by plan. 

Part D is a voluntary program that helps Medicare beneficiaries pay for prescription drugs, see below for additional information on how to:  

• Eligibility: Available to everyone with Medicare  
• How to enroll: Join a Medicare-approved plan that offers drug coverage  
• Plan options: Choose between a stand-alone prescription drug plan (PDP) or a Medicare Advantage plan (MA-PD)  
• Enrollment period: Open Enrollment Period is October 15–December 7 each year  
• Cost: Each plan can vary in cost  
• Late enrollment penalty: If you don't enroll when you're first eligible, you may pay a late enrollment penalty  
• Extra Help: An income- and asset-based program that can help lower prescription drug costs  
• Premium withholding: You can have your premium automatically deducted from your monthly Social Security or RRB payment