Selecting the Medicare Part D plan that fits your healthcare needs is important. However, with multiple coverage options, premiums, and deductibles, sometimes it can be daunting to determine the best option.
Medicare-eligible members have an opportunity to enroll in Medicare Part D to aid their prescription drug costs. Keep in mind, if you are enrolled in Original Medicare (Parts A and B), you cannot automatically include Part D. Instead, you can gain coverage by opting for a standalone Medicare Prescription Drug Plan that works along with your Original Medicare Plan rewards.
Coverage and eligibility requirements may vary based on the plan you pick. It is important to evaluate all the facts, coverage benefits, eligibility criteria, and more before enrolling in the Medicare Part D plan. Don’t worry; this comprehensive guide will help you with that.
What do you mean by Medicare Part D?
Medicare Part D is also referred to as Medicare’s prescription drug coverage. It can help seniors (at the age of 65 or older) to pay for medications that are not covered in Part A and Part B. Although, the government pays 75% of medication costs in Part D, a person still needs to pay for premiums, co-payments, and deductibles.
It is available through private insurance agencies, so pricing and availability may vary based on Medicare plans, companies, and location.
What does Medicare Part D Cover?
Each plan covers its own list and categories of medications. Mostly, they cover several vaccines with no co-payments. These plans typically have at least two or more medications, directed from the often prescribed medication classes and categories. It covers all medications that fall under the following categories:
- Cancer treatment medicines
- HIV/AIDS medications
- Antidepressant medications
- Antipsychotic medications
- Immunosuppressant medications
- Anticonvulsive treatments for seizure disorders
Remember, over the counter medicines, supplements, vitamins, weight loss, and cosmetic medications are not covered in Part D. For certain cases or under specific situations, the required drugs may be covered in Parts A and B.
- Eligibility Requirements
If you wish to apply for Medicare Part D, you must meet the following eligibility criteria:
- You should be at least 65 years of age or older
- You’ve received Social Security disability payments for at least 2 years
- You live in the service area of a Medicare plan that covers prescription drug benefit
- It enrolled in Parts A and B
- You’ve received the diagnosis of end-stage renal disease (ESRD)
Why Consider Enrolling in Medicare Part D?
There are a plethora of plans to choose from, but it is necessary to enroll in a suitable plan to ensure proper senior healthcare at every stage. The best plan for your elderly loved one relies on:
- The medications they currently take
- Any chronic illness they suffer
- How much they pay for premiums, co-pays, and deductibles
- If they need any specific medications covered
- If they live in different locations during the year
Since the cost of medication and healthcare is consistently rising at a fast pace, it is best to encourage your aging parent to enroll in a suitable plan to achieve the best elderly care and enable a healthier lifestyle. If they are turning 65 and are eligible to apply for Medicare, Part D is a viable option to help them cover the expenses of prescription drugs.
How to Enroll in Medicare Part D?
You can use Medicare’s 5-star Special Enrollment Period to enroll in the right Medicare Part D plan during the initial stages. If your plan is unable to meet your needs, you can change the Part D option during the open enrollment periods which take place twice throughout the year.
Original Medicare plan with Part D allows to you reap better benefits and visit specialists without referrals. It is good to work with a successful owner of the healthcare agency, Nelia Ladlad to choose the suitable plan for your loved ones’ medication needs and review the coverage area limits diligently.
Read our previous details:- Part C