Prescription Drug Plans



Medicare Prescription Drug Plan (also known as Part D)  pays for  prescription drugs you need. You must join a Medicare approved plan that offers drug coverage at least a standard level coverage set by Medicare. There are two ways to get a (Part D) Prescription Drug plan:

  • Medicare Prescription Drug Plan (Part D) – a stand-alone drug plan drug coverage to Original Medicare.  If you join a plan there’s a monthly premium and you may have a yearly deductible no more than $455 in 2021.
  • Medicare Advantage (Part C) – Medicare Advantage Plans with Prescription Drug coverage is also known as MAPD
  • Most plans include the drug coverage and you do not have to join a separate or stand-alone drug plan.

The list of covered prescription drugs (Formularies) vary by each plan. The amount you pay for each drug depends  on the plan where drugs are placed into different “Tiers”  on their formularies including brand-name drugs and generic-name drugs.

If you chose not to join a Medicare Prescription Drug Plan (Part D) when you’re first eligible or did not have creditable coverage more than 63 days and  later decide you want to add drug coverage, you will pay a Late Enrollment Penalty.  The penalty is 1% of the national base premium ($33.06 in 2021) multiplied by the number of full uncovered months you were eligible. You may have to pay a late enrollment penalty for along as you have Part D.

For more information, book an appointment today so you can discuss your current medicare needs with a qualified licensed agent.

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MaryRose Miraglia
Independent Insurance Agent
Agent #4013037
We do not offer every plan available in your area. Currently, we represent organizations that offer products in your area. Please contact, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all your options.