Part D prescription drug plans can save you money on the prescription drugs you take. Even if you’re not taking many prescription drugs now, you may want to consider adding this coverage to your medical plan. Some Medicare Advantage plans include Part D coverage as part of the plan. Standalone prescription drug plans are also available if you choose to stay with traditional Medicare or join a Medicare Supplement plan. If you are eligible for a Medicare prescription drug plan and you choose not to enroll, you may have to pay a late enrollment penalty when you do join.
Most Medicare drug plans have a coverage gap (also called the “donut hole”). This means that there is a temporary limit on what the drug plan will cover for drugs. The coverage gap begins after you and your drug plan have spent a certain amount for covered drugs. The coverage gap ends after you reach a certain amount of out-of-pocket expenses. Some Medicare Advantage plans offer higher levels of Part D coverage, including coverage during the gap period.
Download our NTSP Medicare Brochure 2017