Part D (Prescription Drug Plans)

WHAT IS MEDICARE PART D?

Medicare Part D plans, also known as PDP or Prescription Drug Plans, are stand-alone plans for Medicare beneficiaries, designed for those who only require prescription drug coverage.  These plans are often utilized alongside a Medicare Supplement or Medi-Gap plan with your Original Medicare Parts A  & B.

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ARE PART D PLANS THE SAME THING AS MEDICARE SUPPLEMENT OR MEDICARE ADVANTAGE PLANS?

NO. Part D plans are not health plans.  They are neither a Medicare Supplement nor are they a Medicare Advantage plan.  This is confusing because some Medicare Advantage plans include prescription drug coverage.  If you already have a Medicare Advantage plan with prescription drug coverage you are covered.  If you choose to enroll in a Part D stand-alone drug plan, and you already have a Medicare Advantage plan, that enrollment will trigger an automatic termination of your current Medicare Advantage plan.  Consult with Ken Locke before enrolling in a Part D plan if you are currently enrolled in a Medicare Advantage plan.

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AGENT / BROKER ROLE:
As of 2027, agents and brokers are no longer  contracted or licensed to advise or enroll anyone in stand-alone Medicare Part D prescription drug plans.  To update or enroll in a Part D plan, you must go through Medicare.gov, or call 1-800-MEDICARE to review your options for 2027. This includes new and existing clients of Ken Locke. Due to licensing and compliance regulations, Ken Locke (and all insurance agents/brokers) can no longer advise, recommend, market or enroll anyone in Part D stand-alone drug plans for 2027.​

 

TIP SHEET

Click the ICON below for a helpful Tip Sheet to guide you on choosing a Part D stand-alone plan for 2027.