How Does Medicare Part D Coverage Work?

Articles

How Does Medicare Part D Coverage Work?
Each Medicare Advantage plan with prescription drug coverage or Part D plan has its own list of covered drugs, called a formulary. Our pharmacy department and doctors decide which drugs to include based on quality, safety, and how well they work. E...
What Is the Coverage Gap?
Medicare prescription drug coverage has 3 different phases of coverage — initial coverage, the coverage gap, and catastrophic coverage. Initial Coverage During initial coverage, your prescription drug coverage works like normal health insura...
What Is the Part D Late Enrollment Penalty?
The Part D late enrollment penalty is a an amount added to your Part D monthly premium because you didn't sign up for drug coverage when it was available to you. If you go without a Part D plan or a Medicare Advantage plan with drug coverage for...