Medicare Part D is part of the list of Medicare Supplemental Insurance offerings that help you pay for prescription medication. To some people, joining a program like this can save them a lot of money on their medication costs. But it is important to keep some of the ground rules in mind when using this helpful Medicare supplement. For example, if you already have prescription coverage in a Medicare Advantage program, then your acceptance into a Medicare Part D program will unsubscribe you from Medicare Advantage and put you back into original Medicare. If that is not what you want, then you will need to think twice before signing up for the separate prescription help.
The costs of your medication under Medicare Part D can vary for many reasons. There are different types of Medicare Part D plans and your medication costs will be directly tied to which kind of Medicare Supplemental Insurance you choose. Another factor that causes your prices to change is whether or not you use a pharmacy that is in the Medicare network. If you decide to use a pharmacy that is outside the network, then that can affect your pricing. If you choose to get name brand medications as opposed to generic replacements, then that may put the entire cost of the prescriptions on your shoulders. We can show you the ground rules of this kind of a program before you start relying on it to save you money.
When you sign up for Medicare Part D, you will have some payments of your own to consider. You will have a monthly premium to pay which can be part of your Medicare Advantage plan or separate from your standard Medicare plan. You will also have a deductible to meet every year before your medications will be covered. Even after your deductible has been met, you will still have to make co-payments on all of your orders. It can sound like you are paying a lot into this kind of a program, but the coverage it offers will allow you to get your medications at significantly discounted prices. All you have to do is make sure that you abide by the plan rules and use the plan as it was designed to be used.
Medicare Part D can be a good way for people on Medicare to save money on their prescriptions. When you talk to one of our friendly agents about Medicare Part D coverage, they can help you understand what is covered and what your responsibilities would be.