Medicare Part D

Medicare Part D is a program that helps people with Medicare pay for prescription drugs. It is offered through private insurance companies that work with the government. Beneficiaries can choose a Part D plan that best meets their needs and pay a monthly premium. The plan covers a variety of medications, but there are also costs like deductibles and co-pays. Each plan has its own list of covered drugs, known as a formulary. Enrolling in Part D is voluntary, but it’s important to sign up on time to avoid penalties later.