Part D Prescription Drug Plans
Part D, in plain English
Part D drug coverage, explained.
How standalone Part D works, what to compare, and the late enrollment penalty most people don't know about.
What Part D is
Part D is Medicare prescription drug coverage, sold by private insurers and regulated by Medicare. You can get Part D as a standalone plan that pairs with Original Medicare (often alongside a Medigap) or as part of a Medicare Advantage plan that bundles drug coverage.
What to compare
- Each of your drugs on the plan's formulary
- What tier each drug is on (changes your copay)
- Whether your preferred pharmacy is in-network
- Plan deductible and copay structure
- How the coverage gap affects your specific drugs this year
The late enrollment penalty
If you go 63+ days without "creditable" drug coverage after you are first eligible, you can be charged a permanent monthly late enrollment penalty when you eventually enroll. The fix: keep creditable coverage, or sign up for a Part D plan when you are first eligible — even if you take no medications today.