What it is Medicare Part D and How Does it Relates to My Supplements?
If you have worked over 40 quarters in the US and are 65 are older you are typically eligible for Medicare insurance. You can also qualify with less than 40 quarters but will likely have to paye more. Also, people who are disabled and have been receiving social security benefits for 2 or more years can qualify for the program. It is not designed to cover all costs but does pick up most of your medical expenses. If youre on Medicare it is likely that you also live on a fixed income and there is much better peace of mind when youre confident your medical expenses will be covered.
Thats why Medicare supplement plans were created to make up the difference. There are four parts to Medicare coverage, and 12 supplemental plans that increase these coverage levels. Part A is hospital care, Part B is doctor and testing care, Part C is the Medicare Advantage Plan, and Part D is prescription drug coverage. Parts A and B basically explain themselves.
Part C is an alternative to traditional Medicare that can offer more benefits than the original Medicare. It essentially replaces Medicare, unlike supplements which work WITH Medicare coverage. There can be some drawbacks, though, to receiving this type of coverage.
As stated above, Part D covers prescription drug costs for those who choose this coverage. Anyone living on a fixed income with chronic health issues can understand the expense of prescriptions, and not all of them are covered by Part A and B, which is what all Medicare plans are comprised of.
Any drug that is on the original coverage is not part of the separate plan, and cannot be included. If you have a prescription with Part A coverage that requires a $5 co-pay, you have to pay it. It cannot be eliminated by Part D coverage. However, pay close attention because prescriptions covered by Part A and B CAN be covered by a Medigap policy, otherwise known as supplemental Medicare insurance.
Medicare supplemental plans no longer offer prescription coverage. Take the time to consider this because all of your medical expenses should be affordable, not just hospital and doctor costs. Your prescriptions at this point could be critical and you might not be able to live without them.
Find a supplement plan that will cover them or get Part D coverage if they are eligible for that. If you have questions, ask your insurance company or doctor about which drugs are covered so that you arent prescribed medication that you cannot afford.
For more information on Medicare supplement insurance and Medigap coverage, visit http://www.gomedigap.com.