What is a Medicare Part D plan?

Medicare Part D, also called the Medicare prescription drug benefit, is a United States federal government program to subsidize the costs of prescription drugs and prescription drug insurance premiums for Medicare beneficiaries.
If purchasing a MedAdvantage plan, part D drug benefits are generally included.  If purchasing a Medigap plan, you will have the option to purchase a stand-alone Part D plan.  There are 29 plans to choose from in Washington state.   Based on your specific prescription usage, Green Financial will research your options and recommend the best plan for you.

Part D late enrollment penalty

The late enrollment penalty is an amount added to your Medicare Part D monthly premium.You may owe a late enrollment penalty if, for any continuous period of 63 days or more after your Initial Enrollment Period is over, you go without one of these:

  • A Medicare Prescription Drug Plan (Part D)
  • A Medicare Advantage Plan (Part C) (like an HMO or PPO)
  • Another Medicare health plan that offers Medicare prescription drug coverage
  • Creditable prescription drug coverage 
Cost:  Of the 29 stand-alone plans available in Washington, the monthly premium ranges from $14.70 to over $100.  Average cost is around $34.  If choosing a MedAdvantage plan, Plan D rates are generally included with MedAdvantage rate.

We are Waiting to help you

Many factors affect what the best plan for you is, including your doctor/hospital choice, your health, cost, prescription needs, your zip code, whether you travel internationally or snowbird plans.  With this survey we can evaluate and recommend a plan for you.