Medicare Part D

Medicare Part D is prescription drug insurance offered by private insurance companies that contract with Medicare.

An individual’s decision about Medicare prescription coverage depends on several factors:

• The medicines they take
• Type of prescription coverage they currently have, if any
• What they can afford

There are two types of Medicare Part D Plans:

Stand Alone Plans

• Medicare prescription stand-alone plans only provide prescription drug coverage
• You will pay a separate premium for Medicare Prescription plans

Medicare Advantage

• Medicare Advantage prescription drug plans are usually offered with health benefits and prescription coverage rolled into one.
• Medicare Advantage Plans are usually more restrictive than traditional Medicare stand-alone plans due to limitations on provider choice, referral requirements and certain services.

Individuals who do not enroll in a Medicare drug plan during their initial open enrollment period will incur a penalty unless they have other creditable coverage. The penalty is a monthly premium increase of 1% of the annual national base premium ($36.78 for 2025) for each month you were eligible for Part D but did not enroll. This amount will be added to your monthly Part D premium.

Each year you have the opportunity to compare and change your Part D plan during the open enrollment period, Oct. 15 – Dec. 7.

Call to make an appointment. We can go over Original Medicare drug plans vs. Medicare Advantage plans to determine the plan that is right for you.