Part d
Prescription Drug Plans
Prescription drug costs represent a major medical expense for many Medicare beneficiaries and disabled individuals, even with Medicare. That’s because conventional Medicare does not cover the cost of prescription drugs. Part D Prescription Drug Plans help keep the costs of prescription medications under control for Medicare recipients.
MEDICARE PRESCRIPTION DRUG PROGRAMS DEFINED
Part D Prescription Drug Plans are provided by private insurance companies approved by Medicare. As the name indicates, Part D Prescription Drug Plans are designed to cover the costs of prescription drugs rather than over-the-counter medications.
POLICY COMPONENTS
The main component of Part D covers some or all of the costs of prescription drugs. Both generic and name-brand drugs are included, although the costs of some drugs may not be completely covered. Part D Prescription Drug Plan patients who have limited income or financial resources may qualify for Extra Help, a program administered through the Social Security Administration to help pay for Part D coverage, and to reduce the hardship that can result from out-of-pocket prescription drug costs.
