Sold by private companies to help with the cost of prescription drugs. Plans offer different costs and drug lists.
Part D plans are optional, and if you don't sign up when you become eligible, you may pay a higher premium
What pharmacies can I use?
Some plans limit your choice by area. Others offer nationwide coverage. Some plans also offer mail-order services.
Coverage limits.
Terms vary widely. Plans offer various levels of cost sharing until you spend a stated amount in a year. In 2010, it’s $4,550.
What's Your Share?
What isn’t covered.
You get help paying for a drug only if it’s covered by the plan. Most plans have what’s called the coverage gap or “doughnut hole,” during which you’ll pay all costs.
Costs.
While plans may cover some of the same drugs, the monthly premiums can vary. Every October, the companies announce their premiums and other details for the coming year. You may pay a premium penalty set by Medicare if you don’t sign up for Part D coverage as soon as you’re eligible.
Your share of the costs. Some plans have a deductible, some don’t. Some charge a copay. Others charge a percentage of the cost. In the coverage gap, you’ll pay the entire cost.
Part D plans are optional, and if you don't sign up when you become eligible, you may pay a higher premium
What pharmacies can I use?
Some plans limit your choice by area. Others offer nationwide coverage. Some plans also offer mail-order services.
Coverage limits.
Terms vary widely. Plans offer various levels of cost sharing until you spend a stated amount in a year. In 2010, it’s $4,550.
What's Your Share?
What isn’t covered.
You get help paying for a drug only if it’s covered by the plan. Most plans have what’s called the coverage gap or “doughnut hole,” during which you’ll pay all costs.
Costs.
While plans may cover some of the same drugs, the monthly premiums can vary. Every October, the companies announce their premiums and other details for the coming year. You may pay a premium penalty set by Medicare if you don’t sign up for Part D coverage as soon as you’re eligible.
Your share of the costs. Some plans have a deductible, some don’t. Some charge a copay. Others charge a percentage of the cost. In the coverage gap, you’ll pay the entire cost.