Medicare prescription drug coverage, also called Medicare Part D is operated by private insurance companies. Their plans must be approved by Medicare each year, and they are available to everyone with Medicare who enrolls in a plan. There are two primary options for Medicare prescription drug coverage:
- Enroll in a stand-alone Medicare prescription drug plan (PDP)
- Enroll in a Medicare Advantage Plan with prescription coverage (MAPD)
Each Medicare Part D plan covers at least what the Medicare base plan below describes, but many provide enhanced coverage to reduce your costs.