How the coverage works - Medicare Prescription Drug Coverage is insurance. Private companies provide the coverage. You choose a drug plan and pay a monthly premium. When you join a plan, Medicare helps pay the bill.
As with any insurance program, you have options. To learn about plans available in your state, click on our Plan Finder. Although these plans will meet Medicare's stringent requirements, they may differ in terms of costs and coverage.
Medicare Prescription Drug Coverage covers brand name and generic prescription drugs at participating pharmacies close to where you live.
As we age and our medical conditions change and our need for prescription drugs may increase. medicare will cover a significant portion of prescription drug bills. If you have high out-of-pocket costs, Medicare will pay 95% of your prescription drug costs, after you pay $4,550.
How to join - Your chance to enroll is November 15th through December 31st of each year. Coverage begins the following January 1st. Enrollment is voluntary but you must join a plan to get the coverage. Enrollment beyond this timeline is available if you:
- Are going to turn 65 soon?
- Want to switch plans? If you are both Medicare and Medicaid eligible you may switch plans anytime
- Qualify for the low-income subsidy (LIS)
- Are recently disabled
- Qualify for a special election period
How to learn more - We urge you to join all of America in learning more about this historic addition to Medicare. Discuss it with your family and friends. Talk about it over dinner. Keep an eye out for community meetings. Look in your mailbox for more detailed information coming soon.