Gerczak Insurance Agency, Inc.
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Gerczak Insurance Agency, Inc. | 901 A Regester Parkway Richmond VA 23226 US | +1.8774372925
What is Part D and why do I need it?
Medicare Part D, also known as a Medicare Prescription Drug Plan (PDP), is a federal-government program created to subsidize the costs of prescription drugs and prescription drug insurance premiums for Medicare beneficiaries. It was enacted as part of the Medicare Modernization Act of 2003 (MMA) which also made changes to the Medicare Part C health plan program and went into effect on January 1, 2006.
The two ways to get Medicare prescription drug coverage are by enrolling into:
Each Medicare Prescription Drug Plan has its own list of covered drugs (called a formulary) and has its own rules and limitations. Below are some of the more common rules and limitations which can vary between Part D plans: