Medicare Part D

Medicare Part D is the prescription drug benefit component of the Medicare program. It provides coverage for outpatient prescription drugs through private plans approved by Medicare. Beneficiaries can enroll in a stand-alone Prescription Drug Plan (PDP) to add drug coverage to Original Medicare, or they can enroll in a Medicare Advantage plan (Part C) that includes prescription drug coverage. Part D plans are offered by private insurance companies, with different plans covering different medications and having varying premiums, deductibles, and copays. The goal of Medicare Part D is to make prescription drugs more affordable and accessible for Medicare beneficiaries.