Medicare Prescription Drug Plans
Once enrolled in Original Medicare Part A and Part B, there are two ways to get Medicare Prescription Drug coverage – a stand-alone Medicare Part D Prescription Drug Plan (PDP) or a Part C Medicare Advantage plan with Prescription Drug coverage (MAPD)
Medicare Part D Plan Differences
Each MAPD plan and stand-alone PDP plan covers a certain set of prescription drugs, may have different premiums, may have different deductibles or copayments, and may have different preferred and standard pharmacy locations.
Be sure to check each plan’s drug list (known as a formulary) to see if the prescription drugs you take will be covered, how they are tiered, and what their copayments will be.
Review Your Prescription Drug Plan
Make sure you review your PDP coverage annually because there may be changes, both pleasant and unpleasant.