What you need to know about Medicare Part D
Medicare Part D offers prescription drug coverage to anyone who is enrolled in Medicare. You can opt out of receiving this benefit, however if you choose not to sign up when you’re first eligible you will most likely pay a late enrollment penalty.
A few things about Medicare Part D:
Medicare prescription drug coverage is available only through private health insurers that are approved by Medicare.
You can purchase a stand-alone plan, or your prescription drug coverage can be bundled with your Medicare Advantage plan (Part C), but you must have Medicare Part A and Medicare Part B to join a Medicare Advantage plan.
Prices and coverage may vary from plan to plan, so it will most likely be worth your while to shop around.
If you don’t sign up for prescription drug coverage (or have some other form of creditable prescription drug coverage) as soon as you’re eligible, you may be charged a late enrollment penalty.