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the medicare drug plan
6 Key Facts

1. Anyone on Medicare can get coverage regardless of income or health.

2. You are not obligated to enroll, but there may be consequences if you don't sign up when you are first eligible to do so.

3. To get Medicare drug coverage, you must select one approved private drug plan among many offering different choices. There is no single government plan.

4. Is your income limited? If you qualify for a part of the program known as "Extra Help." you'll pay very little for your medications.

5. Are your drug costs very high? You'll pay no more than 5 percent of the cost of each prescription after you've spent a certain amount of money out-of-pocket in any one year.

6. Do you have better drug coverage already? You probably won't need Medicare's Part D coverage. But it's wise to check.

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Medicare Prescription Drug Coverage Plan

Part 4: Do You Need Medicare Part D?

Considering all your options

Don’t dismiss Medicare drug benefits out of hand — even if right now you have good coverage or don’t take any prescription drugs. First consider all the angles, because there may be important consequences if you don’t.

Do I need Medicare drug coverage — when I don’t use any prescription drugs right now?

If you use few or no drugs now, you may wonder if it’s worth signing up for Part D, because you’d be paying a premium to your plan but getting nothing back. But Medicare drug coverage is not just a government benefit. It’s mainly insurance, which — like all other kinds of insurance — protects you against high drug costs if and when you need it in the future. In these circumstances, consider enrolling in the Part D plan in your area that has the lowest premium, which would give you coverage at the least cost.

Can I wait and sign up later when I need coverage?

Yes, but consider this carefully. If you delay signing up for Part D when you have no other drug coverage (for example, from retiree benefits), you should be aware of the consequences:
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