What is the Medicare Part D drug coverage benefit?
The Part D drug benefit is prescription drug coverage for people who have Medicare insurance (these people are called Medicare beneficiaries). Medicare offers Part D to everyone with Medicare. Part D coverage may help you lower your prescription drug costs. It may also help protect you from higher costs in the future. It can give you greater access to the drugs you need to stay well or treat an illness. To get Medicare Part D drug coverage, you must join a plan run by an insurance company or a private company that has been approved by Medicare. If you join a Medicare drug plan, you usually pay a monthly premium. If you decide not to join a Medicare drug plan when you are first eligible (able to join), you might have to pay a penalty when you join later. If your income and resources are limited, you might qualify for extra help paying Part D costs. We will cover this later in the section called “Making a Part D plan decision.” The plans vary in cost and which drugs are covered, and it c
