Overview of Medicare Part D
Medicare Part D
In 2006, Prescription Drug plans (Part D) became available. These prescription drugs plans for eligible citizens help lower the cost of prescription drugs that can prevent complications of diseases and help keep you healthy.
Part D plans are part of the government’s Medicare program, but they are offered and managed through approved private insurers, like Cigna-HealthSpring.
If you have Medicare Part A and Part B, you can enroll in a separate Part D prescription drug plan, or you may choose to join a Medicare Advantage plan (Part C) that includes drug coverage.
Note: Keep in mind, however, not all Medicare Advantage plans include prescription drug coverage.
Advantages of Prescription Drug plans (Part D):
- Protection against high prescription drug costs
- Low premiums
- Choices of cost and benefit levels
- Easy to use
- Works with Medicare Part A and Part B, or may be included in a Medicare Advantage (Part C) plan.
Costs of Prescription Drug Plans (Part D):
You must continue to pay Part B premiums and you may have to pay an additional premium for the Part D coverage. If you choose a Medicare Advantage plan that contains drug coverage, your premium will include the medical and drug portion of the plan.
Your out-of-pocket costs will vary depending on which drugs you use, if there is a qualified generic alternative and if you take advantage of mail-order delivery.
Note: In some cases, your premium may be higher if you didn’t sign up for Part D when you first became eligible.
Four ways to pay your Prescription Drug Plan (Part D) premiums:
- You can have your premium automatically deducted from you savings or checking account, or charged to a credit or debit card.
- You can have the premium deducted from your Social Security benefit/check (if your monthly payment covers your premium).
- The insurer you choose for your plan(s) can send you a bill each month.
- Your employer (or prior employer) might pay you Medicare benefits, so you pay little to no premium.
Check out our Frequently Asked Questions section.