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Choosing A Medicare Drug Plan That Works (For You!)

Medicare Part D enrollment starts in just a few days (November 15), so this is the perfect time for AARP to answer your questions.
For those who don't know, Medicare Part D gives you insurance that assists you in paying for prescription drugs. And has a special guide to help you choose a plan that's right for you. There is even a glossary of terms. As an intro, here are six important facts you should know about Medicare Part D program:

  1. Anyone on Medicare can get drug coverage regardless of income or health.
  2. You are not obliged to sign up (but there may be financial consequences if you don't enroll when you're first eligible to do so).
  3. To get Medicare drug coverage, you must select one approved private drug plan among many offering different choices. There is no single government plan.
  4. Is your income limited? If you qualify for a part of the program known as Extra Help, you'll pay very little for your medications.
  5. Are your drug costs very high? You'll pay no more than 5 percent of the cost of each prescription after you've spent a certain amount out of pocket in any one year.
  6. Do you have better drug coverage already? You probably won't need Medicare's Part D coverage. But it's wise to check.

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