Medicare Part D is responsible for covering prescription drugs for individuals with Medicare (generally 65 yrs old and older).
Medicare Part D plans are provided only through private insurance companies that have legal agreements with Medicare (Federal Government).
When to enroll in a Part D Plan?
If a Part D plan is not picked up when you turn 65 years old or eligible for Medicare (Part A &B) you will be penalized 1% each month you could have had the plan. This penalty will be paid separately to Medicare if you enroll in a Part D plan in the future.
2 ways to get a Medicare Part D Plan
► A Standalone Part D Plan
► Part D is included in a Medicare Advantage Plan.