Why Medicare Part D?

According to the Kaiser Family Foundation, prescription drugs are a part of the care plan for 59 million seniors and people with disabilities. What’s more, the drugs account for $1 of every $6 in Medicare spending.Private companies offer Part D plans in accordance...

How Medicare Part D Works

We suggest you select a PDP when you are eligible, even if you do not currently take any prescription medications. There are two reasons:If you fail to sign up for Medicare prescription drug coverage when you first become eligible, unless you have what Medicare...

Common Medicare Part D Terms

Formulary A formulary is a list of medications list of medications covered by a prescription drug plan. It usually includes tiers, or levels, of coverage based on how much the drugs cost. In general, the higher the drug price, the more the plan member must contribute...

Medicare Part D Coverage Gap (Donut Hole)

This term refers to the gap in coverage by prescription drug plans that occurs when the member and the plan have each contributed a set amount outlined in the plan for the medications that it covers. Some people will not experience the gap because the costs of their...

When can I enroll in a Part D prescription drug plan?

If you need to enroll in Part D for the first time, you can do so during your IEP, during Fall Open Enrollment (see What is Fall Open Enrollment?), or if you qualify for a Special Enrollment Period (see What Other Opportunities Do I Have To Change My Medicare Health...

What is the Extra Help Special Enrollment Period (SEP)?

If you have Extra Help, the federal program that helps pay for the out-of-pocket costs of Medicare prescription drug coverage, you have access to an SEP to enroll in a Part D plan or switch between plans.This SEP is available once per calendar quarter for the first...