Prescription drug prices have skyrocketed, and, as we age, many of us need medication for everyday life. From treating long-term conditions or short-term illnesses, prescription drugs are essential…and expensive. The right medical insurance plan can make a big difference. If you need prescription drug coverage, consider Medicare Part D! MedicareGov Directory is here to help you make the best decision for your budget and your healthcare needs. Read on to learn more about this prospective plan, and contact a specialist at MedicareGov Directory today for expert advice on whether Medicare Part D is the right choice for you.
- You have Medicare Part A and/or Part B
- You don’t have prescription drug coverage through another plan
- You live in a qualified service area
What You Need to Know
Prescription Drug Coverage
Original Medicare doesn’t cover most medications, with the exception of those you receive in hospital inpatient care and certain prescription drugs you receive in outpatient care. Medicare Part D is the optional addition to your plan if you need more comprehensive prescription drug coverage.
Medicare Advantage is the other common option for prescription drug coverage, but Medicare Advantage – also known as Medicare Part C – requires that you have both Medicare Part A and Part B, while a Part D plan can work with one or the other.
If you are interested in Medicare Part D, then do your research quickly and sign up as soon as you’re eligible. Otherwise, you may face a late-enrollment penalty. The only exception is if you can show that you had creditable prescription drug coverage in the time you were not covered by Part D. “Creditable” coverage includes any plan that pays as much or more than standard Part D coverage.
Is Medicare Part D Right for You?
Whether you currently take prescription medications or not, it’s worth your time to decide if Medicare Part D is a smart fiscal decision for your future. As you age, you’ll likely depend more and more on prescription drugs. With this coverage, you’ll be prepared for that eventuality, as well as the possibility of injuries or other diagnoses.
Speak to the Experts
The decision to enroll in Medicare Part D – or not – can be daunting, especially when you consider taking on a premium in addition to what you pay for Original Medicare. Fortunately, you don’t have to make this choice alone. The specialists at MedicareGov Directory in St. Louis can help you determine the right plan for you, from finding a Medicare Part D plan with premiums, deductibles, and coverage customized to your needs to exploring other options like Medicare Advantage. Compare your choices today with our simple online tool, or call today to speak to one of our team members!