medicare drug plans
Medicare prescription drug coverage adds to your Medicare health coverage
Joining a drug plan
To join a Medicare Prescription Drug Plan, you must have Medicare Part A (Hospital Insurance) or Medicare Part B (Medical Insurance). To join a Medicare Advantage Plan (like an HMO or PPO) or other Medicare health plan with prescription drug coverage, you must have Part A and Part B. You must also live in the service area of the Medicare health plan or drug plan you want to join.
All Medicare drug plans must give at least a standard level of coverage set by Medicare. However, plans offer different combinations of coverage and cost sharing. Medicare drug plans may differ in the prescription drugs they cover, how much you have to pay, and which pharmacies you can use.
If you decide to join a Medicare drug plan, compare plans in your area and choose one that meets your needs. If you don’t join a Medicare drug plan when you’re first eligible for Medicare, and you don’t have drug coverage that’s expected to pay, on average, at least as much as standard Medicare prescription drug coverage (called creditable prescription drug coverage), you may have to pay a lifetime late enrollment penalty if you join later. The penalty is
in addition to your premium each month for as long as you have a Medicare drug plan.