Part D Medicare Prescription
Drug Plans Coverage

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Medicare is like alphabet
soup – A, B, C, now D!

Medicare prescription drug plans are a requirement.

If you do not opt for Medicare prescription coverage when you are eligible, you will have to pay a penalty. If you have credible coverage, such as an employee provided insurance plan, the penalty will not apply.

Plan well. You will experience this penalty for as long as you have Medicare. The current penalty rate is 1% for every month that you do not sign up when you are eligible.

How do I get Medicare Prescription Coverage?

For Medicare part D prescription plans, you must first have insurance that covers Plan A and B. That could be the original Medicare or Medicare Advantage.

If you have Plan C, also known as the Medicare Advantage or Medicare Supplement plan, most of these already cover your Medicare prescription drug plans. Depending on your situation, there are different ways to get your Rx plans. But you might opt for Original Medicare with a part D addition.

How can I make sure my drugs are covered with my Part D plan?

Every year you must do your research to ensure that your plan covers your specific prescriptions. Your health or situation may have changed.

The other element to consider is if you have access to the generic brands. This will offer a wider range of options at a cheaper out of pocket cost. There are tiers of prescription drugs. Tiers of Medicare Rx Coverage Plans will vary based on what insurance companies you sign with for coverage.

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tier 1

Geberic Brands

These will be your generic drugs.

You will have the lowest copay cost for these.

tier 2

Brand Names

These prescriptions will have many of the brand name medications.

The copay will be a little higher.

tier 3

Brand Names

They are also known to be the brand name prescriptions.

Copays will be high for these.

specialty tiers

specialty tiers

The highest copay will come with this tier of prescription drugs.

The plan that you decide upon will dictate what your cost will be in association with the prescription tiers. Discuss any prescription tier concerns with your prescribing doctor or hospital. There are times that you will not be able to avoid a higher tier of prescriptions.

Your Part D deductible will affect how much out of pocket cost you will have on a yearly basis. To save costs, always ask your health care professional or pharmacy for an available generic option.

Make a Plan for
Your Success

Like putting together a bike or piece of furniture, start by laying out the pieces of your health. As you age, make the plan for the current year and your future.

Medicare prescription drug plans for are something you certainly need to plan well for. Lack of planning can cause the penalties and Rx costs to add up quickly. Even if your plan needs adjusting, having a starting plan will keep you on track.

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The best part? The whole process is 100% free, with no obligation whatsever to enroll!