Prescription drug plans help cover the cost of medications that are not included under basic Medicare hospital and medical coverage. Many people enroll in a prescription drug plan to help reduce the cost of the medications they take regularly and to protect themselves from high drug costs in the future.

These plans are offered through private insurance companies approved by Medicare and are designed to work alongside Medicare coverage. Depending on the plan you choose, your prescription drug coverage may come through a standalone Medicare Part D plan or through a Medicare Advantage plan that includes drug coverage.