Medicare will pay part of the costs of prescription drug coverage for everyone who enrolls in a plan. How much you pay will depend on which prescription drug plan you choose and whether or not you qualify for the extra help with the costs of this coverage that Medicare is offering.
What should I think about when choosing a drug plan?
When you are picking your Medicare prescription drug plan, you should consider coverage, convenience, customer service, and costs:
- Coverage: Are your current drugs covered on the plan's drug list (called the formulary)?
- Convenience: Does the plan have restrictions or limits on how you can use your drugs? Also, can you get your drugs from the drugstore you like? Can you get them by mail if you want to?
- Customer Service: How responsive is the plan when you call with a question? Does the plan offer helpful reminders when it is time to refill your medications?
- Costs: How much will you have to pay during the year? Costs include your monthly premiums, the deductible (if any), co-payments or co-insurance, and coverage gap costs (if any).
You may also qualify and apply for Extra Help paying the cost of Medicare Prescription Drug Coverage, depending on your income level and your assets.
If you are already enrolled in Part D, it pays to review your coverage every year.
Aon Hewitt Navigators® is a Medicare insurance brokerage service recommended by NCOA because it meets rigorous Standards of Excellence established by NCOA. You may be eligible for personal one-on-one assistance in selecting and enrolling in health coverage. All of the services are provided at no cost to consumers. Check to see if you are eligible.
In this section:
- What will Part D cost me?
- How can I compare different plans’ costs and choose between Original Medicare and Medicare Advantage?
- What counts for my “out-of-pocket” costs?
- How can I lower my Part D costs?
- How do I pay my premiums?
- Is there a penalty for joining later?