Medicare Part D helps cover cost of prescription drugs. Considering nearly 1 in 2 Americans are on a prescription drug, this is a very important plan for many.

If you are nearing 65 and planning to start Medicare, or if you have a chronic illness, or have been seriously injured, prescription drug coverage may be a nonnegotiable for you. This is why it’s very important to weigh your options and understand what Medicare Part D will and will not cover.

What prescriptions does Medicare Part D cover?

Most Medicare drug plans have their own list of what drugs are covered. This is called a formulary. Plans include both brand-name prescription drugs and generic drug coverage to help provide budget options. All Medicare drug plans generally must cover at least 2 drugs per drug category, but it’s important to see what is covered as the private insurer can choose which drugs covered by Part D they will offer.

In some cases, the formulary might not include your specific drug. Don’t worry. In most cases, a similar drug should be available.

What prescriptions are NOT covered under Medicare Part D?

There are certain kinds of drugs that are excluded from Medicare coverage by law. It’s important to understand what these are.

  • Weight loss, or weight gain, medications.
  • Fertility medications
  • Erectile dysfunction treatments
  • Drugs used for cosmetic purposes or hair growth. This includes drugs like Botox and Rogaine.
  • Cough medicines
  • Vitamins and minerals
  • Non-prescription drugs (over-the-counter drugs)

Depending on your current and future needs for prescription drugs, finding the right Medicare Part D plan can be very important. It’s no secret that prescription drugs can be extremely costly. Protect yourself now with the right plan and save yourself thousands of dollars in the future.

If you need help finding the right plan for you based on your budget, location, and conditions, click here to take our Medicare Benefits Finder Quiz or give us a call. We’ve helped thousands of people – we can help you!