What Prescription Drugs Does Medicare Part D Cover?

By Paul Henry / in , , , , , , , /

Each Medicare Part D plan has a different
list of covered prescription drugs, also called a formulary. It’s important to look over
each plan’s formulary to understand how well it supports your prescription drug needs
before choosing a prescription drug plan. We’ll take you step-by-step so you can understand
your coverage options. As you view different Medicare Part D plan
details, you may notice that brand name and generic prescription drugs are categorized
into tiers. These tiers determine the cost of each covered prescription drug. The lower
the tier, the less expensive the drug. Tier one tends to include mostly generic drugs. You will be able to lower your out-of-pocket
prescription drug costs by using generic drugs instead of brand-name prescription drugs whenever
possible. Be sure to ask your doctor or pharmacist about switching from a brand-name drug to
a less costly generic drug when appropriate. Formularies are updated every month, which
means the drugs covered by a Part D plan may change. For instance, if the Food and Drug
Administration determines that a drug is unsafe to use, it will be immediately removed from
the plan’s formulary. Medicare Part D plans must provide written notice at least 60 days
before they make any formulary change that affects a drug you take. Certain drugs are not covered under a Medicare
Part D plan, such as non-prescription drugs, those covered under Medicare Parts A and B,
and those not approved by the Food and Drug Administration. When considering a Part D plan, review each
plan’s formulary for the prescription drugs you take to find a plan that’s right for
your specific needs. Keep watching for more helpful Medicare Part
D information. And be sure to visit SilverScript.com to learn more about the many brand and generic
drugs covered by our Part D plans.

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