Medicare Part D is the Prescription Drug plan that works with both Medicare A and Medicare C (Medicare Advantage.) Though Medicare C plans almost always have a prescription drug plan associated with them. Medicare D is not issued by the government it is bought from private insurance companies.
Medicare D prescription drug plans all must meet a set of criteria in terms of what they offer, but the plans are not identical. They differ in price and what they offer.
Things to be aware of are deductibles, co-payments, and how each plan works with co-insurance. Another consideration is whether or not there is an Annual limit on how much your Medicare D plan will cover. IF you max out an annual limit you will have to pay full price for medications for the rest of the year.
Medicare D works like other insurance plans. You will pay full price for medications until your annual deductible is met. Once the deductible is met your cost for medications will be reduced to a co-pay. You will likely receive a monthly premium to pay to keep coverage in place.
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