The Basics of Part D Medicare

By Roz Jones

You’re a caregiver. You understand the complex world of insurance and health care. But when it comes to Part D Medicare, you may feel like you’re in over your head. Part D Medicare is a prescription drug plan offered by private insurance companies that are approved by Medicare. It is available to people who have Medicare Part A and/or B, which covers hospital and medical insurance, respectively. 

What is Part D?

Part D is a prescription drug coverage plan that is available to Medicare beneficiaries. This plan helps to cover the costs of prescription drugs that are not covered under Original Medicare. Part D plans are offered by private insurance companies and each plan has its own list of covered drugs, called a formulary. 

How Part D Works

Part D plans vary, so it’s important to do your research to find the one that best meets your aging loved one’s needs. Some plans have low monthly premiums but high deductibles, while others have higher premiums but low deductibles. There is also a wide range in the types and costs of drugs covered by each plan. All plans must offer at least a standard level of coverage set by Medicare. 

Once you enroll your aging loved one in a Part D plan, they will usually pay a monthly premium. They may also have to pay an annual deductible before their coverage begins. After that, they will typically pay coinsurance or copayment for each prescription filled. Some plans charge a late enrollment penalty if you do not sign up for Part D when you first become eligible. 

Part D Medicare can be confusing, but as a caregiver, it’s important to have a basic understanding of how it works. By doing your research and comparing plans, you can find the one that best suits your aging loved one’s needs. And remember, if you have any questions, don’t hesitate to contact your local Medicare office for more information.


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