Medicare drug plans on advantage plans
Medicare offers prescription drug coverage for everyone with Medicare.
This coverage is called “Part D.” There are 2 ways to get Medicare prescription drug coverage:
- Join a Medicare Prescription Drug Plan (PDP). These plans add coverage to Original Medicare, and can be added to one of these:
• A Medicare Savings Account (MSA) Plan. • A Medicare Private Fee-for-Service (PFFS) Plan, if it doesn’t offer Medicare prescription drug coverage. • A Medicare Cost Plan if it doesn’t offer Medicare prescription drug coverage, or if it does offer Medicare prescription drug coverage but the enrollee doesn’t elect the drug coverage.
- Join a Medicare Advantage Plan—like a Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), Private Fee-for-Service (PFFS) Plan or Special Needs Plan (SNP)—or another Medicare health plan (like a Medicare Cost Plan) that includes prescription drug coverage. Medicare Advantage plans that include prescription drug coverage are sometimes called “MA-PDs.” You’ll get all of your Medicare coverage including Medicare Part A (Hospital Insurance), Medicare Part B (Medical Insurance), and Medicare Part D (prescription drug coverage), through these plans. Medicare drug plans are run by insurance companies and other private companies approved by Medicare. Each plan can vary in cost and drugs covered. If you decide not to join a Medicare drug plan when you’re first eligible, you may pay a late enrollment penalty if you choose to join later.