Medicare Part D Details

What is Medicare Part D?

Introduced in 2006, Medicare Part D prescription drug plans are the most recent addition to the Medicare program. There are two ways of getting Part D coverage. The first is through purchasing a stand-alone plan to pair with Original Medicare coverage. The second is to enroll in a Medicare Advantage plan with prescription drug benefits, often called an MAPD plan.

Part D plans are sold by private insurers and are available to anyone enrolled in Original Medicare. There is no required physical exam for them, and you cannot be denied this coverage for financial or health reasons. Though Medicare Part D is optional, you may pay a late-enrollment penalty if you don’t enroll as soon as you’re eligible.

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