What is a "PDP" and do I need it? 

 

As a Medicare beneficiary, you are eligible for prescription drug insurance. This insurance covers a percentage of your medication costs. You can enroll in a Medicare Part D plan if you have Original Medicare. 

If you’re currently not taking any expensive medications, drug insurance may not seem important. But it’s wise to enroll in at least an inexpensive drug plan as soon as you enroll in Medicare. If you delay and later on need to buy a policy to help pay for expensive drugs, you might be charged a penalty for late enrollment.

If you choose Original Medicare, you can purchase a stand-alone Medicare Part D prescription drug plan through a private insurance company. For example, Anthem, Humana, and CVS Health. 

What Does Medicare Drug Insurance Cover?

Policies vary by which medications they cover, and how much you must pay. But even the least expensive prescription drug plans must cover most of the generic and brand name drugs and the insulin preparations that are generally needed by people on Medicare. And, it must cover all or most of the drugs in the following categories:

• Anticancer drugs (unless covered by Medicare Part B),
• Antidepressants,
• Antipsychotic medications,
• Anticonvulsive treatments for seizure disorders,
• HIV/AIDS treatments,
• Immunosuppressant medication

Part D plans must also cover vaccines, including shingles shots.