Medicare Prescription Drug plans also known as Medicare Part D are plans that cover prescription drug costs. Medicare Prescription Drug plans are offered by private insurance companies that have been approved by Medicare.
If you decide not to join a Medicare drug plan when you are first eligible, and you don’t have other creditable coverage, you may incur a late enrollment penalty if you join a plan later. Prescription drug plans differ in the medications on each plan’s formulary (list of covered drugs) and in the amounts for deductibles, co-payments, and/or co-insurance. All of these factors weigh into the premium cost for the plan.
At Newbrooke Insurance we will work with you on finding the best prescription drug plan based on your anticipated use of specific medications, and we will provide price comparisons from different carriers.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-Medicare to get information on all of your options.
Please see our article on The ABC’s of PDP’s for more detailed information on Medicare Prescription Drug plans.
