Medicare Prescription Benefits

If you are eligible for Medicare, you can enroll in a Medicare Prescription Drug Plan to help with the cost of prescription medications.  According to Medicare.gov:

“Medicare Prescription Drug Plans are offered by insurance companies and other private companies approved by Medicare. They add coverage to:

  • The Original Medicare Plan,
  • Some Medicare Cost Plans,
  • Some Medicare Private Fee-for-Service Plans, and
  • Medicare Medical Savings Account Plans.

“With a Medicare Prescription Drug Plan:

  • Generally, you will pay less for your prescriptions.
  • You get a plan member card after you enroll and use this card when you go to the pharmacy to get your prescriptions filled.
  • You pay any copayment, coinsurance, and/or deductible.”

Learn more about Medicare Prescription Drug Plans:

  • In-depth information on Medicare prescription drug program options, including help finding the best plan to fit your needs, is available through the Medicare website or by calling 1-800-MEDICARE (1-800-633-4227) (TTY users 1-877-486-2048).
  • Find out more about expanded eligibility for the Medicare Part D Extra Help program available to those with limited income and resources. This program can cut prescription drug costs by thousands of dollars per year.  For details, call Social Security at 1-800-772-1213 (TTY users 1-800-325-0778).
  • Starting in 2025, all Medicare plans will include a $2,000 cap on what you pay out-of-pocket for prescription drugs covered by your plan. Enrollees also have the option to pay out-of-pocket prescription drug costs through monthly payments instead of all at once at the pharmacy (see Medicare Prescription Payment Plan for details).

Last Updated on October 16, 2024