About 7 minute read
Overview
Part D is prescription drug coverage sold by private carriers under Medicare rules. Original Medicare plus a Medigap policy does not include drug coverage, so a standalone Part D plan is usually added.
How it works
Every Part D plan publishes a formulary, a tiered list of the drugs it covers. Two plans with identical premiums can price the same prescription very differently.
What to watch for
If you go without creditable drug coverage for 63 days or more after your initial eligibility, a late-enrollment penalty is added to your premium and stays there.
What to do next
Plans change their formularies each year. Reviewing your plan annually against your current prescription list is ordinary maintenance, not an upsell.
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Book your free 15-min callThe information on this site is educational only and is not medical, legal, or tax advice. Medicare Supplement (Medigap) benefits are standardized where applicable, but premiums, availability, and underwriting rules vary by carrier and by state. Gilbert Services Southwest is not affiliated with or endorsed by the federal government or the Centers for Medicare & Medicaid Services. Please consult a licensed insurance professional about your individual circumstances.
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