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How to get prescription drug coverage; What Medicare Part D drug plans cover; Costs for Medicare drug coverage
Once you choose a Medicare drug plan, here's how to get prescription drug coverage: Enroll on the Medicare Plan Finder or on the plan's website. Complete a paper enrollment form.
All plans must cover a wide range of prescription drugs that people with Medicare take, including most drugs in certain protected classes,” like drugs to treat cancer, HIV/AIDS, or depression. A plan’s list of covered drugs is called a “formulary,” and each plan has its own formulary.
The chart below shows your estimated prescription drug plan monthly premium based on your income as reported on your IRS tax return. If your income is above a certain limit, you'll pay an income-related monthly adjustment amount in addition to your plan premium.
Your actual drug coverage costs will vary depending on: Your prescriptions and whether they’re on your plan’s list of covered drugs (formulary ). What “tier” the drug is in. Which drug benefit phase you’re in (like whether you’ve met your deductible, or reached your out-of-pocket limit).
Look at Medicare drug plans with a low monthly premium for drug coverage. If you need prescription drugs in the future, all plans still must cover most drugs used by people with Medicare.
The Medicare Prescription Payment Plan is a new payment option in the prescription drug law that works with your current drug coverage to help you manage your out-of-pocket costs for drugs covered by your plan by spreading them across the calendar year (January – December).
A federal government website managed and paid for by the U.S. Centers for Medicare & Medicaid Services. 7500 Security Boulevard, Baltimore, MD 21244. Find Medicare health and drug plans in your area and compare costs. To get started enter a ZIP code or log in.
A new prescription drug law that went into effect January 1, 2023, will help save money for people with Medicare. This law improves access to affordable treatments and strengthens the Medicare program.
Medicare drug plans (Part D) cover many drugs that Part B doesn't cover. If you have Original Medicare, you can join a Medicare drug plan to get Medicare drug coverage. If you join a drug plan, check your plan's drug list (also called a formulary ) to find out what outpatient drugs it covers.