Medicare prescription drug coverage is insurance that helps people pay for prescriptions, Part D of Medicare. Everyone with Medicare is eligible for prescription drug coverage.
You can get Medicare prescription drug coverage through a stand-alone prescription drug plan (PDP) or a Medicare Advantage Prescription Drug plan (MA-PD). The Annual Enrollment Period (AEP) for Part D of Medicare currently runs from October 15-December 7 of each year, with Special Election Periods (SEP) available under limited circumstances. If you are eligible for a Part D plan and don’t have creditable coverage, you may be issued a penalty when you do apply for prescription drug coverage later on.
Determining what type of plan can best help cover the costs of your specific prescriptions can be a complicated process, but an agent at Graber & Associates can help make it simple.