Medicare Help

Medicare Help

Medicare Part D provides prescription drug coverage through various private insurance companies. Like Part B, most people pay premiums each month to be covered for Part D coverage. Premiums for Part D vary by company and state. You are eligible to enroll in a Part D prescription drug coverage plan if you have Part A and/or Part B. In order to get Part D coverage, you will enroll directly with your plan of choice.

In general, there are 2 ways to get Part D prescription drug coverage.

1) Medicare Advantage plans or  Cost plans: HMO, PPO, or other plans that include Medicare Part D in the cost of their premiums
2) Medicare prescription drug plans (PDP): stand-alone plans that add drug coverage to Original Medicare (Parts A and B) .

Stand-alone plan – Separate prescription drug coverage you buy in addition to Original Medicare or a supplement.

Part of a Advantage plan – Prescription drug coverage you get when you enroll in a Advantage plan instead of Original Medicare or a supplement.

If you’re eligible for coverage assistance, you don’t have to get prescription drug benefits. But if you don’t sign up for a prescription drug plan when you are 65, you will pay a penalty for signing up at a later time.

Prescription drug plans may include:

•    Basic coverage meeting the federal government’s minimum requirements
•    Broad coverage with fixed co-payments to help you manage your costs with no deductible to pay
•    Extensive coverage with generic prescription drugs covered while in the coverage gap, no deductible, and fixed co-payments to help save you money; protection up to a catastrophic limit

Each private plan provides coverage for a specific list of medications, called a formulary. Choose your plan carefully to make sure it covers drugs you use regularly.

Call us now for more information on Part D!



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