Also known as Medicare Advantage, Medicare Part C covers Parts A and B beneficiaries through private insurers rather than traditional government-administered Medicare companies. The majority of Advantage plans include prescription drug coverage. The monthly premium costs vary depending on plans, but the average monthly premium is $21. You can compare costs on Medicare.gov.
Medicare Part D covers prescription drugs through private insurers. You only will need Part D if you have Original Medicare and want medications covered. If you opt for a Medigap plan or Advantage plan that includes prescription drugs, there is no need for Part D.
Suppose you decide to get Part D after your initial enrollment period; in that case, you’ll pay 1% of the base premium multiplied by the number of months you went without it. Currently, the base premium is about $33 per month.
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