What is Medicare Part D?
Medicare Part D covers a wide range of prescription drug costs that aren’t covered by Original Medicare (Part A and Part B). It also provides coverage for some vaccines, like shingles.
You can enroll in Part D once you’re eligible for Medicare Part A or enrolled in Part B. You can pair a stand-alone Part D plan with Original Medicare or choose a Medicare Advantage plan that includes Part D coverage.
If you don’t choose a Medicare Part D plan when you’re eligible, and don’t have other creditable drug coverage, there will be a permanent penalty added to your Part D premium for every month you could have enrolled but didn’t. So it may pay to enroll even if you don’t use prescription drugs now.
Taking multiple medications can increase the risk of drug interactions, side effects and other complications. Through the Medication Therapy Management (MTM) program, you can get one-on-one guidance from a pharmacist or other trained health care provider. They’ll make sure your medications are safe and working for you—and may help you find lower-cost options.
Last updated 10/01/2023
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