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Anyone turning 65 (or younger people who qualify) may be confused about Medicare prescription drug plans. Medicare Part D subsidizes the cost of prescription medications for seniors. In 2006, the Medicare Modernization plan took effect, offering voluntary prescription drug coverage for Medicare recipients through Medicare Part D. If you have basic Medicare, you need to purchase a private insurance plan if you want prescription drug coverage. Private companies also sell Medicare Advantage plans, which may include prescription drug coverage.
Medicare Prescription Drug Plans: Private Plans Cover Medication
Medicare Part D coverage helps seniors pay for their prescription medications. Depending on the plan you choose, it can pay for coinsurance, monthly premiums, copayments or yearly deductibles. Every private insurance plan has a formulary listing the prescription drugs it covers. Be sure your pharmacy is included in the plan network. Onsite and mail order pharmacies can be used with Medicare Part D. Using a mail-order pharmacy may be easier for some people, especially if they have mobility issues or have trouble driving.
Always deal directly with Medicare or your private insurance company. Protect yourself against Medicare scams. Salespeople aren’t allowed to come to your home to sell you a plan. Don’t give an uninvited salesperson any personal information. Only give your Social Security Number and other personal information to Medicare, doctors, insurance companies and hospitals.
Medicare Prescription Drug Plans: How to Find the Right One for You
During Medicare’s open enrollment period, you can add a Medicare Part D plan to your coverage, and drop or change other parts of your plan. A Medicare Advantage Plan from a private insurer might work better for you than original Medicare with Part D. Analyze each choice, taking into account your health and prescription drug needs. If you have trouble deciding which plan is right for you, call Medicare or a private insurance company that specializes in Medicare Advantage plans. If you call Medicare to enroll in Part D coverage, you should have information on your Part A (hospital) coverage and Part B (medical) coverage.
If you need advice regarding Medicare prescription drug plans, The Benefit Link, Inc. offers skilled counselors who can help you over the phone or online. We’ve assisted seniors with Medicare, life insurance, assisted living needs and prescription drug coverage. The choices can be confusing, and our objective counselors will work with you to find the best Medicare plans for your health needs. Call us today at 1-866-630-0626, ext. 107.
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