Part D Medicare Prescription Drug Plans (PDP’s) provide standalone prescription coverage according to the Federal Government’s Deductible-Initial Coverage-Coverage Gap-Catastrophic Coverage benefits scheme. These plans vary widely in pricing and formulary (drugs covered), so shopping for them requires checking your prescriptions against the plan’s formulary.

Do not be tempted to forego Part D coverage just because you aren’t taking any medications at the moment; the Government will penalize you with a premium penalty once you actually do need coverage and sign up for a plan.

This penalty increases with your period of non-coverage. Ensure that any plan in which you do enroll provides “Creditable Coverage”.