Medicare Part D Formulary
True or false: Every Medicare Part D plan covers every type of prescription drug.
The answer: FALSE.
Before choosing a Medicare prescription drug plan, it’s important to take a look at the plan’s comprehensive formulary. This list of drugs will detail all of the prescription drugs the plan covers. If a drug is not on the list, it is not covered by the plan and will therefore be a higher cost for you.
All coverage on a plan’s formulary is not the same. Many Medicare Part D plans put drugs into different levels, or “tiers”, within the formulary. The prescription drugs within the different tiers have varying costs. For example, a drug in a formulary’s lower tier will have a lower cost than a drug in a formulary’s higher tier.
SilverScript (PDP) uses five-tier formularies. Learn more specific information about the different formulary tiers.