What is Medicare Part D?
Medicare Part D is a federal program that provides prescription drug coverage to Medicare beneficiaries. It was established as part of the Medicare Modernization Act of 2003 and began providing coverage in 2006. Part D plans are offered by private insurance companies approved by Medicare, and it is available as a standalone plan or as part of a Medicare Advantage plan.
The amount that you pay for your prescription drugs under Medicare Part D depends on the specific plan you choose and the drugs you need to take. Some plans may have a monthly premium, while others may require you to pay a deductible or copayments for your drugs. It is important to compare different plans to find one that best meets your needs and fits your budget.
