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Medicare prescription

Medicare prescription drug plans

Medicare Prescription Drug Plans Since January 1, 2006, Medicare Prescription Drug Plans (Medicare Part D) have been available to all people with Original Medicare.

 United Healthcare Advantage Plans for Medicare

You must get Medicare Part D through a private insurance company that has a contract with Medicare to offer these plans.

 

Different insurers offer different types of plans, so your cost for the plan (premium), the covered drugs, and your out-of-pocket costs for prescription drugs (copayments, co-insurance, and deductible) will vary.

 

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If you decide not to enroll in a Medicare prescription drug plan when you are first-time-eligible and you do not have other creditable prescription drug coverage, or if you do not get Extra Help (described below), you are likely to pay a tuition penalty. . Creditable prescription drug coverage means other drug coverage that you have now that is at least as good as a standard Medicare prescription drug plan. In general, there are two ways to get Medicare prescription drug coverage:

 

Enroll in an independent plan. These plans (sometimes called "PDPs") add drug coverage to Original Medicare. Most people who buy a Medicare supplement policy enroll in one of these independent plans. You can choose any plan available in your service area.

 

Enroll in a Medicare Advantage plan (Medicare Part C). You get all your Medicare Part A, Medicare Part B, and prescription (Part D) coverage through any of these plans offered in your service area.

Medicare prescription drug plans 2014

Medicare Part D covers the cost of prescription drugs. The amount of coverage will depend on the medications you take and whether or not you are in the Coverage Gap or Catastrophic Coverage.

 

Part D coverage usually works like this:

 

You pay a monthly premium to be covered under the plan

If the plan has deductible, you pay the full amount of your prescription purchases until the deductible is met.

Once you meet the deductible, you will pay a portion of the costs according to your specific plan. This is usually a fixed amount (copay). Generally, you pay this amount directly to the pharmacist at the time of purchase. This is called the initial coverage.