What is Medicare Part D prescription coverage???? Medicare Part D FAQ’s  What is Medicare Part D? The Medicare Prescription Drug, Improvement and Modernization Act of 2003 (MMA) added a new prescription drug program to Medicare.  (See Part D of Title XVIII of the Social Security Act)   When does coverage begin? You must enroll between 11/15 and 5/15.  After the initial enrollment period is closed you will have to wait until the next open enrollment period to enroll and you may be subject to a late enrollment penalty.   What does Medicare Part D cover? Ÿ         YOU PAY $250 deductible. Ÿ         Then YOU PAY 25% (Medicare 75%) of the next $2000 in coverage which is $500. Ÿ         Then YOU PAY 100% (Medicare 0%) of the next $2850 in coverage. Ÿ         YOUR total out of pocket expenses will be $3600 ($250+$500+$2850). Ÿ         Medicare then pays for remaining eligible drug expenses, subject to a copay of 5% of drug costs or $2 for generic/$5 for non-generic Ÿ         Does not cover over the counter drugs or drugs covered by Medicare Parts A or B.   Will I need any paperwork from my insurance carrier to enroll in Medicare Part D? Yes, you will need a Notice of Creditable or Non-Creditable Coverage.  FCMI will be supplying notices to all our insured’s by November 15.     For specific information please contact:   Medicare 800-Medicare              TTY users should call 877-486-2048 www.medicare.gov   If you have limited income and resources please contact:   Social Security Administration 800-772-1213                          TTY users should call 800-325-0778 www.socialsecurity.gov