Medicare Part D is the prescription drug coverage plan offered by Medicare. It can be purchased as a standalone plan with Original Medicare (Part A and B), or included as an extra benefit with a Medicare Advantage (Part C) plan.
Each Part D plan has a formulary, or list of prescription drugs it must cover. Each plan is required to cover at least two drugs in each class, as well as common vaccinations that prevent illness.
Also, each Part D plan must cover all of the prescriptions in these specific classes:
Many Part D plans incorporate “tiers” on their formularies which indicate how much cost-sharing will be involved for a covered drug. Typically, a drug in a lower tier will cost less than a drug in a higher tier. There are five tiers:
If you are in need of prescription drug coverage, then don’t wait. Proinsurance Hawaii can ensure you find the right Part D plan at the right price. Give us a call today!
