Medicare's Secret Coverage Tips Everyone Should Know

Part D: Prescription Drug Coverage

Medicare Part D adds prescription drug coverage to Original Medicare and some Medicare Cost Plans, Medicare Private-Fee-for-Service Plans, and Medicare Medical Savings Account Plans. Each plan can vary in cost and drugs covered, so it's important to review the specifics of each plan to ensure it meets your medication needs. Many beneficiaries find that Part D plans offer significant savings on prescription medications by reducing out-of-pocket costs⁴.

Medicare Supplement Insurance (Medigap)

Medigap policies, sold by private companies, can help pay some of the healthcare costs that Original Medicare doesn't cover, like copayments, coinsurance, and deductibles. These plans can offer peace of mind by limiting out-of-pocket expenses, but they come with their own premiums. It's essential to compare Medigap policies to find one that offers the coverage you need at a price you can afford⁵.