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Prescription Drug Coverage

2024 Medicare Part D Now Available


Run prescription reports and enroll online

UntedHealhcare Medicare Solutions
Aetna Medicare Plans
Humana Medicare
Silverscript Prescripton

Request a Free Prescription Drug Plan Comparison Report

What is Medicare Part D?

Prescription drug coverage, also knowns as Medicare Part D, is an important component of your complete health coverage.

Prescription drug plans are:

  • Sold separately from Medigap plans

  • Often included with Medicare Advantage plans

  • Subject to a penalty for late enrollment

Medicare Part D is the formal name for prescription drug coverage for Medicare recipients. Part D must be enrolled in separately from Original Medicare (Parts A and B).


Those who opt to use Medicare Advantage as an alternative to Original Medicare usually have prescription drug coverage as part of their Medicare Advantage plan.

Would you like to run your own prescription drug report? We've made it easy run a prescription drug report using our instant quoter. You can even self-enroll, if you'd like.

What is the Best Prescription Drug Plan?

There is not a prescription drug plan that universally works best for everyone. Each prescription drug plan covers specific drugs as set forth in its drug formulary. Because each plan has a different formulary, it's essential that you analyze which plan offers the best coverage for your personal prescription drug list.


Additionally, some Part D plans have preferred providers, meaning you'll spend less money by going to specific pharmacies. 


The easiest approach to finding the best prescription drug plan is to contact an independent Medicare insurance agent or to run a prescription drug report using our instant quoter

What is the Medicare Part D Penalty?

Medicare imposes a penalty if you are not timely enrolled in a prescription drug plan. A complete analysis of the various deadlines for enrolling in Medicare Part D can be found on the website, but as a general rule, you'll need to enroll in a Part D plan within three months after the month of your 65th birthday. There are exceptions to this rule, for example, if you have other creditable prescription drug coverage (usually an employer plan) you can delay enrollment in Part D.

If you fail to enroll in a prescription drug plan during your initial enrollment period (with a 63 day grace period) and no exception applies, then Medicare may impose a late enrollment penalty. 

Occasionally Medicare will improperly impose a late enrollment penalty. Usually this is the result of Medicare not being made aware of an applicable exception to the late enrollment. We can assist our clients in the removal of improper Part D late enrollment penalties.

Review Your Prescription Drug Plan Annually

Each year during the Annual Enrollment Period (October 15 through December 7) you can join or switch prescription drug plans. Because prescription drug plans can change their drug formularies annually, it is important to review your plan during the Annual Enrollment Period. 

Studies have shown that by not reviewing your prescription drug plan each year, you could end up overspending on prescription drugs by hundreds of dollars a year.

Important Medicare Part D Topics

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