December 20, 2021
2 minute read

What is Medicare Part D, and how do I get it?

The cost of many medicines can be expensive without insurance. With Medicare Part D coverage, paying for prescription medications can be less of a financial burden.

What is Medicare Part D?

Medicare Part D is a voluntary benefit that provides coverage for prescription medications. When you qualify for Medicare coverage with Part A or Part B, you are also qualified for Part D. Regardless of how you received your prescription medicine prior to eligibility, you can now get them through a private Part D plan.

How do I get a Medicare Part D plan?

There are two ways to join Medicare Part D: via a stand-alone plan (a prescription drug plan, or PDP) or through a Medicare Advantage plan (MA-PD).

A stand-alone prescription drug plan (Part D or a PDP) can be paired with your Original Medicare (Part A and B) coverage. You must have Part A and/or B coverage to sign up for a stand-along Part D plan. Additionally, this plan will have a separate premium from your Original Medicare coverage and comes from a private insurance company.

A Medicare Advantage plan with prescription drug coverage (MA-PD) will also come from private insurance company. These plans give you all your Part A, Part B, and Part D (prescription drug) coverage in one plan. You must have Part A and/or B coverage to sign up for a Medicare Advantage plan.

What to consider when enrolling in Medicare Part D

Now that we’ve answered, “What is Medicare Part D,” let us give you a few pieces of advice. Here are some things to consider when you decide to apply for Part D:

  • Choose a company that offers plans in your area. You may need to contact pharmacies in your area to see what plans are covered.
  • Make sure you enroll during specific annual enrollment periods to ensure your coverage begins when you need it.
  • Look at all of the costs associated with a plan. It doesn’t stop at the premium. It also depends on what medications you take and if they are covered, as well as any coverage restrictions in place.

Where can I compare Medicare Part D plans?

You can start comparing plans with HealthMarkets. We can even help you start an application today!

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© 2024 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week).

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, PPO and PPFS organizations and stand-alone prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

48242-HM-1221

© 2024 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week).

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, PPO and PPFS organizations and stand-alone prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

48242-HM-1221

© 2024 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week).

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, PPO and PPFS organizations and stand-alone prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

48242-HM-1221