Part D Prescription Drug plans are available to all Medicare beneficiaries through private plans approved by the federal government. As it’s name reflects, this helps cover the cost of prescriptions. Each plan varies in cost and the drugs covered.
1. A medicare user has a choice to enroll in a stand-alone prescription drug plan to accompany Original Medicare or they can use a Medicare Advantage prescription drug (MA-PD) plan.
2. Some beneficiaries can receive financial assistance with premiums and cost sharing through a subsidy program.
3. To qualify for the subsidy program, a beneficiary must fall within 150% of the federal poverty level.
4. The 2017 Part D Prescription Drug Plan base premium is $35.63.