Prescription Drug Plans Part D
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Prescription Drug Plans Part D

Part D helps cover prescription drugs and many recommended shots and vaccines.

Medicare Part D helps pay for the prescription drugs you need. Like Medicare Advantage, Part D is offered by private insurers that are approved by Medicare. Part D helps cover prescription drugs and many recommended shots and vaccines.1

There are two ways to get prescription drug coverage: You can enroll in a Part D plan in addition to your Original Medicare and/or Medigap plan, or you can enroll in a Medicare Advantage plan that includes drug coverage.

Why Enroll?

If you don’t spend a lot on medications right now, you may be tempted to skip Part D. It’s optional, after all. But there are reasons to consider signing up. Let’s say you don’t get Part D when you’re first eligible, and you don’t have another source of drug coverage. If you decide to sign up for coverage later, you may face a late enrollment penalty that you’ll have to pay as long as you have Medicare drug coverage. 

Another reason to consider enrolling? Part D helps shield you from rising prescription drug costs, which can jump even higher depending on your health.

Additional cost controls are being introduced for prescription drugs, including lower prescription drug prices in Medicare through price negotiation with manufacturers, and a $2000 yearly cap beginning in 2025.2

We're here to help

Choosing the right plan can be overwhelming, but we have you covered. It can be very helpful to work directly with an agent in Michigan who is licensed, and educated in the Medicare market and can walk you through the different options, and help you choose the plan that is right for you.

Your partners at Silvur Insurance are here to help and can meet with you one-on-one in your local MSU Credit Union Branch, over the phone, or even virtually - all, at no cost to you! To schedule a meeting with one of our agents, click HERE or call (888) 372-3999.

Sources

  1. “CMS Releases 2024 Projected Medicare Part D Premium and Bid Information.” CMS. 31 July 2023. www.cms.gov/newsroom/fact-sheets/cms-releases-2024-projected-medicare-part-d-premium-and-bid-information. Accessed 7 December 2023
  2. “CMS Releases 2024 Projected Medicare Part D Premium and Bid Information.” CMS. 31 July 2023. www.cms.gov/newsroom/fact-sheets/cms-releases-2024-projected-medicare-part-d-premium-and-bid-information Accessed 7 December 2023.

Our licensed, Michigan-based insurance professionals will help you find and enroll in the best Medicare plan for your unique needs.

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    Delaware Insurance Producer License No. 3003086360. All rights reserved.We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options. Currently, we offer 10 Medicare organizations which offer 87 products in your area. To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-701-2460), 24 hours a day/7 days a week).Silvur Insurance Services LLC is a licensed and certified representative of Medicare Advantage organizations and stand-alone prescription drug plans. Each of the organizations/plans we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.This website is operated by Silvur Insurance Services LLC. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual circumstances. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.This website does not contain a complete description of plan benefits. Call the Plan’s customer service phone number for more information. Not affiliated with the U. S. government or federal Medicare program. This is a solicitation for Insurance. Plans are insured or covered by a Medicare Advantage organization with a Medicare contract and/or a Medicare-approved Part D sponsor. Enrollment in the plan depends on the plan’s contract renewal with Medicare.