Does Medicare Cover Prescription Drugs?

Does Medicare Cover Prescription Drugs?

One of the most common questions we hear from people turning 65 is:"Does Medicare cover my prescriptions?"

The answer is... not automatically.

Original Medicare — that’s Part A (hospital insurance) and Part B (medical insurance) — does not include most prescription drug coverage. But there are options available to make sure you’re protected.

Here’s what you need to know.

Option 1: Enroll in a Medicare Part D Prescription Drug Plan

Part D is your go-to for prescription coverage under Medicare. These are standalone plans offered by private insurance companies and are designed to work alongside Original Medicare (Parts A and B).

Each plan has its own:

• Monthly premium (averages $30–$40)

• Formulary (a list of covered medications)

• Pharmacy network

• Copays and deductibles

Even if you don’t take any medications right now, it’s usually smart to enroll when you’re first eligible. Why? Because if you delay, you could face a late enrollment penalty that sticks with you as long as you have Medicare.

Option 2: Choose a Medicare Advantage Plan with Drug Coverage

Many Medicare Advantage Plans (Part C) bundle medical and drug coverage into one plan. These plans often include:

• Hospital and medical benefits (just like Original Medicare)

• Prescription drug coverage (similar to a Part D plan)

• Extras like dental, vision, hearing, or fitness benefits

These all-in-one plans can be more convenient and may offer lower premiums — but keep in mind they often come with network restrictions, and not every plan covers every drug. So it's important to review the details before enrolling.

What Does Medicare Not Cover?

Even with a Part D or Medicare Advantage plan, there are some things to be aware of:

• Over-the-counter medications usually aren’t covered

• Some brand-name or specialty drugs may require prior authorization

• Every plan has different pricing tiers, so your out-of-pocket costs will vary depending on the drugs you take

A Final Thought

Prescription drug coverage is one of the most important (and confusing) pieces of the Medicare puzzle. The right plan can save you hundreds, even thousands of dollars a year — but choosing the wrong one could mean unexpected costs at the pharmacy.

If you’re turning 65 and wondering which plan fits your needs and prescriptions, we can help. We’ll guide you through your options, compare plans, and make sure you don’t leave coverage (or savings) on the table.

Have questions? Let’s talk it through.