What does Medicare Part D cover?
The Medicare Part D program began in 2006 as a way to help people with Medicare pay the high cost of prescription drugs. Medicare Part D is managed by private insurers approved by Medicare such as SilverScript® Insurance Company.
Each Medicare Part D prescription drug plan (or ‘PDP’) has its own list of covered drugs (Part D formulary), which includes brand and generic drugs approved by Medicare. All Medicare Part D plans cover the same categories of drugs, however each plan can choose which specific drugs it will cover within each drug category. Many Medicare drug plans place drugs into different ‘Part D formulary tiers’ or pricing categories with the lowest priced drugs included in Tier 1. Generally, the higher the tier, the more the drug will cost.
Return to the Medicare FAQ section to view more answers to other commonly asked questions about Medicare prescription drug coverage.