The final Medicare plan available is Part D. Part D has a more limited scope compared to the other Medicare services, focused exclusively on prescription drug costs. However, it has become even more important in recent years due to the increased cost of prescription medications. Depending on your medical history, Part D may be essential to cover all your medical expenses.

If you already use prescription medications and enrolled in either Medicare Parts A and B, you are strongly encouraged to sign up for part D as well. There are some similarities between Parts C and D, as both have multiple plans to choose from.

There are a few differences between each of the Medicare Part D plans. The biggest differences are which medications are covered, as well as the premium, copay and yearly deducible costs.

Because Part D is provided through the federal government, you can search for all the available plans in your state online using your state healthcare marketplace.

There are a few tips to help you find the right Medicare Part D plan:

• Do not limit your search based on the monthly premium. Picking a plan with the lowest premium does not actually mean you are paying the lowest price. Many low-premium plans only offer basic coverage, so you might end up rarely using the insurance and paying out of pocket for your medication.
  
  Additionally, there may be higher copays and other service charges with these plans. Depending on how frequently you purchase prescriptions, it could cost significantly more than a plan with a higher premium.
  
• Medicare Part D allows you to change your plan. You do not have to commit to a single plan, but you must wait until the open enrollment period to switch services.
  
  Even if you are happy with you current Medicare Part D plan, it is not a bad idea to browse through the marketplace before an open enrollment period to see if any new plans are available. Alternatively, if you require a different amount of medication, that may be a sign to change your plans.
  
• Plan ahead for the future. The older you become, the more likely you are to need prescription medication. Even if you only have one or two monthly prescriptions, it is better to sign up for Medicare Part D now so you are not forced to wait or scramble to find coverage when you need it.
  
  If you are not actively using prescription medication, consider starting with a lower premium plan and upgrading as needed.

Another important consideration is which medication is covered. Some of the less expensive plans offer limited coverage. However, if your medication is not listed in the plan, it may still be good for you.

Speak with your doctor to see if there are other alternatives available that are covered under the plan you wish to purchase.