What to check
- Whether each prescription is on the plan’s current formulary
- The drug tier and estimated cost
- Preferred and in-network pharmacies
- Deductibles, prior authorization, step therapy, and quantity limits
- Whether your coverage is standalone or included in Medicare Advantage
Late enrollment penalty
A Part D late enrollment penalty may apply if you go 63 days or more without Part D or other creditable prescription coverage after you are eligible. The specific result depends on your enrollment history and eligibility.
Review every year
Formularies, pharmacy networks, premiums, and cost sharing can change. Review the Annual Notice of Change and compare coverage for the next plan year during the appropriate enrollment period.
Official source: Medicare.gov, What’s Medicare Drug Coverage?.