Medicare Part D
Categories: Insurance
A lot of health insurance plans have prescription riders. That means the basic insurance leaves you on your own to pay the $1,000 a month needed for the medicine that keeps your heart beating. But if you pay an extra monthly fee, you enter a program that lets you get the generic version of that drug for a $25 co-pay.
Medicare has a similar system. The regular Medicare provides basic health insurance for old and disabled people. In addition, seniors can also buy into added Medicare Part D coverage. The “D” here might as well stand for “drugs." It exists as the optional prescription drug add-on for Medicare.