What is Medicare Part D all about? If Medicare D is new to you, start here for a simple explanation of how it came about and what it's for. Am I eligible? How do I get the coverage? If you're on Medicare, you're eligible. Find out more about how to qualify. How much does it cost? The costs and benefits of Medicare D vary by plan. You can compare the plans in your area online. What else should I consider as I make my decision? As you formulate your decision, ask yourself these questions. When do I sign up? What happens if I miss the deadline? If you wait too long to sign up, you will pay higher premiums. Find out what a delay will cost you. How to save on prescription drugs today One idea: Ask your doctor if less expensive generic drugs could be right for you. Special rates for low-income Americans If you meet certain income and resource limits, you may qualify for Extra Help from Medicare.