Explore Medicare Part D

Creditable prescription drug coverage is drug coverage that’s expected to pay, on average, at least as much as Medicare’s standard Part D prescription drug coverage.

Medicare drug plans commonly divide covered medications into tiers, with lower-tier drugs generally costing less and higher-tier drugs generally costing more.

A Medicare Part D formulary is the drug plan’s list of covered prescription medications.

The best Medicare drug plan usually isn’t the plan with the lowest premium. It’s the plan that provides the best total cost and coverage for your specific prescriptions and pharmacy.

You may owe a Medicare Part D late enrollment penalty if you go 63 consecutive days or more without Medicare drug coverage or other creditable prescription coverage after you’re eligible.

Medicare Part D plans help pay for outpatient prescription medications, but every plan can have a different formulary, premium, deductible, pharmacy network and cost-sharing structure.

Medicare Part D is optional, but going without Part D or other creditable prescription drug coverage can create a late enrollment penalty if you decide to enroll later.

Medicare Part D is insurance that helps cover outpatient prescription drugs. You can get Part D through a standalone Medicare drug plan when you have Original Medicare or through many