Medicare Drug Benefit (Part D)

Medicare Part D is a federal program that helps cover the cost of prescription medications for Medicare beneficiaries. It is offered through private insurance plans approved by Medicare. Participants pay a monthly premium and may share costs through deductibles, copayments, or coinsurance. Part D plans vary in coverage, formulary, and provider networks, allowing individuals to choose plans that best meet their medication needs. Enrollment is voluntary, and the program aims to make prescription drugs more affordable and accessible for seniors and certain disabled individuals.