For people enrolled in Medicare, having prescription drug coverage is not only essential for reducing your out-of-pocket costs, but can also prevent you from incurring a Part D late enrollment penalty down the road. For those with Original Medicare, drug coverage will need to be obtained through a standalone Medicare Part D plan.
According to KFF.org, the average Medicare beneficiary will be able to choose from 21 stand-alone Medicare Part D drug plans in 2024. When choosing a Medicare PDP, it’s important to not only review individual plans, but also the plan provider. Different insurance providers offer different benefits, such as access to online billing or mail-order pharmacies.
Below, we’ll highlight some of the big names in prescription drug coverage for Medicare enrollees. Though these are some of the most popular carriers, this is not a complete list and other carriers and plans may be available in your area.
Aetna – SilverScript PDPs
Aetna SilverScript Prescription Drug plans are standalone Medicare Part D plans available to Medicare enrollees. SilverScript drug plans have been popular among Medicare enrollees ever since SilverScript was founded in 2006.
Humana Medicare Part D Plans
Humana has been offering healthcare coverage since 1961. Today, Humana offers three Medicare Part D plans for people with Medicare.
Mutual of Omaha Medicare Rx Plans
Mutual of Omaha offers three Medicare Rx plans to fulfill the needs of Medicare enrollees looking for drug coverage.
United Healthcare – AARP Medicare Rx Plans
AARP Medicare Rx Plans are offered by United Healthcare for individuals enrolled in Medicare. United Healthcare offers three different Medicare Part D plans to enrollees.
Cigna Medicare Part D Plans
Cigna offers three Medicare Part D Prescription Drug plans to individuals who are enrolled in Medicare.
Wellcare Prescription Drug Plans
Wellcare offers three different standalone Medicare Part D Prescription Drug Plans throughout the United States to Medicare enrollees.
This is not a complete list of insurance carriers who offer Medicare Part D.
Medicare Part D in 2024: A First Look at Prescription Drug Plan Availability, Premiums, and Cost Sharing, KFF.org. Accessed January 2024