Medicare Part D

Part D of Medicare refers to a new Prescription Drug Plan (PDP) adopted in January 2006, which gives prescription drug coverage to all Medicare recipients regardless of health status, income, and use of these medications.

There are several plans available, each suited to different patterns of prescription drug use. Like other insurance, users of Medicare Prescription Drug Coverage pay a monthly premium and a yearly deductible ($250 or less for 2006, depending on plan). Users will also pay part of the cost of each prescription in the form of a copayment or coinsurance. For plans that offer more coverage, these payments are higher. Those with limited income and resources may qualify for coverage without a premium or deductible.

Signing up for Prescription Drug Coverage takes place during specific enrollment periods, the first of which ran from November 15, 2005 to May 15, 2006. The next opportunity to enroll is from November 15, 2006 to December 31, 2006.

More information about Part D is available at the Medicare website.

For a usage guide about the Part D Prescription Program, click here.