Monthly Plan Premium

A plan premium is a dollar amount paid monthly to either Medicare for Part A or B coverage, a Medicare Advantage insurer for health care, or to a Medicare-approved Part D insurer such as SilverScript® Insurance Company for standalone prescription drug coverage.

Premiums can vary within different service areas, so when considering your Medicare Part D costs, ask what the plan’s Medicare Part D premium is for your specific area. Also, ask if the plan offers convenient payment options other than mailing a check each month, such as automatic Social Security or Railroad Retirement Board deductions, automatic bank draft withdrawal or credit card payments.