For over 40 years, Medicare beneficiaries paid out of pocket for most of their prescription medications. In 2006, the federal government opened a new program called Medicare Part D to help beneficiaries manage their prescription drug costs.

Medicare Part D is offered via private insurance companies, and you have the ability to comparison shop and choose a plan that best suits your needs.

Medicare Part D is voluntary, meaning you can choose to opt into a plan or not. If you do enroll in Part D, you will be able to access retail prescription drugs at a more affordable rate, and enjoy protection against catastrophic costs in the event you need a very expensive medication.

You are eligible for Medicare Part D when you first become eligible for Medicare (at age 65). You can consult with one of our licensed professionals, who will be happy to explain your plan options, or you can enroll in a Part D plan directly through Medicare. Call 1-800-MEDICARE or visit Medicare’s website for enrollment information.

If you opt for a Medicare Part C (Advantage) plan, Part D coverage might already be rolled into that policy.

Since Part D coverage is offered through private insurance companies with plans that vary, you should carefully consider each plan’s formulary to ensure that your preferred drugs will be available through the plan.

If you don’t enroll in Medicare Part D when you are first eligible for Medicare, you can elect a plan later. Each year, during Medicare’s Annual Election Period from October 15 to December 7, you can add, drop, or change your plan selections.