Medicare Part D
Because many companies are raising rates and co pays this year, let us talk to you about which plan will be most economical with your prescriptions.
Why is a Medicare Part D plan important?
Original Medicare usually only covers drugs administered during hospital or doctor visits. If you take regular medications, you may want to consider a Medicare Prescription Drug (Part D) plan. There are two ways to have Part D coverage:
- You can enroll in a standalone Part D plan, also known as a PDP plan. You can have a PDP plan in addition to Original Medicare, a Medicare Supplement (Medigap) plan, or a Medicare Advantage Private Fee-For-Service plan (that does not have drug coverage).
- You can enroll in a Medicare Advantage plan that includes Part D coverage.
Medicare Part D plans offer coverage for common generic and brand name prescription drugs. The Federal government sets guidelines for what medications Medicare Part D plans must cover. However, the prescription drugs covered vary from plan to plan. Make sure your prescriptions are covered in each plan’s list of covered medications.