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What is Medicare Part D?
Medicare Part D covers a wide range of prescription drug costs that aren’t covered by Original Medicare (Part A and Part B). It also provides coverage for some vaccines, like shingles.
You can enroll in Part D once you’re eligible for Medicare Part A or enrolled in Part B. You can pair a stand-alone Part D plan with Original Medicare or choose a Medicare Advantage plan that includes Part D coverage.
If you don’t choose a Medicare Part D plan when you’re eligible, and don’t have other creditable drug coverage, there will be a permanent penalty added to your Part D premium for every month you could have enrolled but didn’t. So it may pay to enroll even if you don’t use prescription drugs now.
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Taking multiple medications can increase the risk of drug interactions, side effects and other complications. Through the Medication Therapy Management (MTM) program, you can get one-on-one guidance from a pharmacist or other trained health care provider. They’ll make sure your medications are safe and working for you—and may help you find lower-cost options.
Last updated 10/01/2023
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