Whether you’re planning to sign up for a Part D prescription drug plan to go along with your Original Medicare or for a Part C (Medicare Advantage) plan that already includes a Part D prescription drug plan, you will have to find out what drugs are covered by your plan and how much they will cost you.
Each Part D prescription drug plan has a list of drugs that it covers. This is called a formulary. If your drug is not on your plan’s formulary, you may have to request an exception, pay out of pocket for the cost of the drug, or file an appeal.
Other things to be mindful of are whether the Part D prescription drug plan you’re considering imposes any restrictions on your drug coverage or whether you need prior approval from the plan before it pays for your drug.
You should also take a look at whether the plan you’re considering will give you a good deal at the pharmacy of your choice — or through mail order to you.