Medicare Explained - Part D (2023)

Medicare Explained - Part D (2023) includes the changes to Part D due to the Inflation Reduction Act. Medicare 2023. Part D changes in 2023.

Check out the clickable menu below to go to the section you are interested in.
If you are new to Medicare and want to understand Part D, this video is made for you.

What is Medicare Part D?

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Visit https://partdshopper.com/ to shop your Part D Plan
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Four Stages of Medicare 2023: https://medigapseminars.org/wp-content/uploads/2022/08/2023_PartD_Stages.pdf
Initial Enrollment Calculator: https://medigapseminars.org/medigap-calculator/

Part D 2023 Menu

0:00 What is Medicare Part D?
01:55 4 ways to get Medications
06:04 How Does Part D Work?
08:18 Part D Tier Structure
10:37 Four Stages of Part D
15:10 2022 Inflation Reduction Act
18:44 Advantage Plans vs. Stand Alone Part D
20:58 Special Rule – Warning
23:24 When Can I Apply for Part D?
25:06 How To Shop for Part D

Medicare Part D is that part of Medicare that provides insurance coverage for most Medicare prescription drugs. In general, Medicare prescription drug coverage can be divided into three categories. With two of these categories, prescription drug coverage is paid by either Part A or B of Original Medicare. It is important to understand when your covered prescription drugs are paid under Part D or when Original Medicare will help pay the cost. The categories of drug coverage are Inpatient Prescription drug coverage, Medicare Part B medications and your Part D prescription drug plan. This includes the Medicare donut hole explained. The Medicare Part D donut hole is gone.

When Can I Apply For Medicare Drug Coverage?
A Medicare Beneficiary can apply for Medicare Part D as long as they are eligible for Medicare Part A. Medicare beneficiaries do not need to have Part B to apply for prescription drug coverage. However, they will need a Medicare beneficiary number.
You can apply for Part D coverage during your Initial Enrollment Period. That is a seven month window around the month you turn 65.

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