Prescription Drug Benefits Under Medicare (Part D)

Request a Quote

Medicare’s prescription drug benefit (Part D) is the part of Medicare that provides outpatient  drug coverage. Part D is provided only through private insurance companies that have contracts  with the federal government—it is never provided directly by the government (unlike Original  Medicare). 

If you want to get Part D coverage, you have to choose and enroll in a private Medicare  prescription drug plan (PDP) or a Medicare Advantage Plan with drug coverage (MAPD).  Enrollment is optional (though recommended to avoid incurring future penalties) and only  allowed during approved enrollment periods. Typically, you should sign up for Part D when you  first become eligible to enroll in Medicare. 

Whether you should sign up for a Medicare Part D plan depends on your circumstances. You  may have creditable drug coverage from employer or retiree insurance. If so, you don’t need to  enroll in a PDP until you lose this coverage. Also, some people already enrolled in certain low income assistance programs may be automatically enrolled in a Medicare drug plan and receive  additional financial assistance paying for their medicines. 

© Medicare Rights Center. Used with permission. 

The content is developed from sources believed to be providing accurate information. The  information in this material is not intended as tax or legal advice. It may not be used for the  purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for  specific information regarding your individual situation. This material was developed and  produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is  not affiliated with the named broker-dealer, state- or SEC-registered investment advisory  firm. The opinions expressed and material provided are for general information, and should not  be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

Why We're Different

While most insurance products are similar in price and function, insurance providers vary when it comes to structuring a policy tailored to you.

After all, there’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

Contact us today, and we'll help you protect what matters most.