What is Medicare Prescription drug coverage?
Who is eligible and may enroll in a Part D prescription drug coverage?
Participation in a Part D prescription drug plan is available to nearly anyone enrolled in Medicare A and B, but it is not mandatory.
It can be a good idea to enroll in a Part D plan if:
- You regularly take prescription drugs
- You do not already have creditable prescription drug coverage elsewhere
- Your health/family history leads you to believe you will need to take a prescription drug in the future
- You are having difficulty affording your prescription drugs.
How and when to enroll?
Medicare Part D has specific enrollment periods
Initial Enrollment Period (IEP)
The 7-month period that begins 3 months before you turn age 65, includes your birthday month, and ends 3 months after the month you turn age 65.
For those under age 65 with a qualifying disability and receiving Social Security or Railroad Retirement Board disability benefit, you will have a 7-month enrollment period. This period begins 3 months before your 25th month of receiving Social Security or Railroad Retirement Board disability benefit includes your 25th month, and ends 3 months after.
Oct 15 - Dec 7
Annual Election/Enrollment Period (AEP)
Begins October 15 and ends December 7 with coverage taking effect January 1st of the coming year.
Special Enrollment Period (SEP)
Allows you to switch or drop a Part D plan under special circumstances. Here are some examples:
- You returned from living outside the United States after a long-term permanent residence outside the U.S.
- You are leaving, losing or joining an employer or union.
- Your plan's contract with Medicare is terminating.
- You recently involuntarily lost your creditable prescription drug plan.
- You live in, are moving into, or recently moved out of a nursing home or long-term care facility.
Go to Medicare.gov for more information.