Medicare Prescription Drug Plans

You can buy a stand-alone Medicare Prescription Drug Plan (PDP) under Medicare Part D.

Stand-alone Medicare Drug Plans (PDP) are another way to add drug coverage to traditional Medicare and Medigap plans. If you choose to be covered under a traditional Medicare plan and purchase a Medigap plan to cover the costs that Medicare doesn’t cover, you’ll still have to buy a PDP to get prescription drug coverage.

 

Watch out for the Coverage Gap.

Many PDP plans have a coverage gap, which means they will only cover up to a certain dollar amount for your prescription medication. Once you spend more than that amount, you must pay the full cost of your prescription drugs until you reach the out of pocket obligation. After that, you are only responsible for a co-payment. Not all Part D plans cover all the prescription drugs that you may be taking. Your copayment will vary depending on your income and on the types of medication that you need.

 

Only Medically Necessary Drugs are Covered.

PDP plans don’t cover cosmetic prescriptions, over the counter drugs, weight loss, or other drugs that are not deemed medically necessary. If you want prescription drug coverage in addition to your Medicare coverage, request a quote on a PDP, Part D or Medicare Advantage plan today.