| Medicare Part D is prescription drug coverage for | | | | the coverage gap. |
| Medicare recipients. Medicare drug plans for Part D | | | | Part D coverage monthly fees vary with each plan |
| are provided by private insurance companies. These | | | | and are in addition to the Part B premium. If you have |
| plans are not provided by the government. A private | | | | your prescription coverage with a Medicare Part C |
| insurance company must be approved by the | | | | plan, your cost of coverage is probably included in the |
| government before it can provide a Medicare drug | | | | Part C premium. |
| plan. Medicare plan D is available to all Medicare | | | | The yearly deductible is the total amount you that you |
| recipients. | | | | have to pay for your prescriptions before your plan will |
| If you are already enrolled in either Medicare Part A, or | | | | ever pay. Some plans may have no yearly deductible. |
| Part B or both, you are eligible for Medicare Part D. It is | | | | Co-payment or co-insurance is the amount you pay up |
| advisable to enroll into a Medicare Drug plan as soon | | | | front to the pharmacy when you buy your prescription. |
| as possible. If you wait to enroll, you will end up paying | | | | The coverage gap is when your prescription |
| higher premiums. | | | | purchases have exceeded a certain amount. At this |
| You do not necessarily have to enroll in a Medicare D | | | | point, you have to pay for all of your medication out of |
| plan. You may also receive prescription coverage if | | | | pocket until a yearly out of pocket limit has been |
| you enroll in a Medicare Advantage Plan (Part C). If | | | | reached. At this point, the plan begins paying again. |
| you have prescription coverage in a Part C plan, you | | | | In summary, Medicare Part D is an add on to |
| cannot enroll in a Part D plan. | | | | coverage to Medicare Part A and Part B for |
| All plans are required to provide a standard level of | | | | prescription drug coverage. It comes at a cost. The |
| coverage mandated by Medicare. However, the actual | | | | monthly premium, deductibles, co-pay or co-insurance |
| costs and coverage vary by Medicare drug plan. The | | | | and the coverage gap are all things that you need to |
| costs associated with a Part D plan are the monthly | | | | consider when buying a part D plan. |
| fee, the yearly deductible, co-insurance or co-pay and | | | | |