What it is
This CMS publication explains how Medicare prescription drug coverage (Part D) works, whether inside a stand-alone drug plan or bundled into a Medicare Advantage plan. It covers eligibility, enrollment, formularies, tiers, coverage stages, and the late-enrollment penalty.
Who should read this
- Anyone adding Part D for the first time.
- Beneficiaries whose medications changed this year.
- People weighing a stand-alone Part D plan against a Medicare Advantage plan with drug coverage.
Key topics covered
Formularies and tiersCoverage stagesLate-enrollment penaltyExtra Help / Low-Income Subsidy