How can a Medicare-eligible consumer obtain Part D prescription drug coverage?

Medicare-eligible consumers can obtain Part D prescription drug coverage by enrolling in a standalone Medicare prescription drug plan. This is a key option for those who want prescription drug coverage separate from their Original Medicare (Part A and Part B) or from a Medicare Advantage Plan, which might also include drug coverage. Standalone drug plans are offered by private insurance companies approved by Medicare.

These plans typically require beneficiaries to pay a monthly premium and provide access to a list of covered medications, known as a formulary. It's essential for beneficiaries to review their options carefully, as different plans may have varying costs, coverage, and rules regarding medication.

Other options like employer coverage, automatic enrollment, or purchasing directly from retail pharmacies do not provide the same structured benefit as Part D through a Medicare-approved plan. Employer plans may vary widely in coverage and are not the primary means of obtaining Part D for those who are eligible for Medicare. Automatic enrollment typically does not apply to Part D but rather to Part A or B, and buying medications directly from pharmacies does not establish a Part D plan.