How to get Medicare Prescription Drug Coverage

05/30/2013

Medicare Prescription Drug Plan (Part D)

If you’re a senior who’s receiving Medicare, then you’re eligible for Medicare prescription drug coverage. Medicare offers prescription drug coverage to everyone with Medicare, even if you’re not presently enrolled.

2 ways to get drug coverage

To get Medicare prescription drug coverage, you must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered.

  1. Medicare Prescription Drug Plan (Part D) — These plans (sometimes called “PDPs”) add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans.

  2. Medicare Advantage Plan (Part C) — It’s like an HMO or PPO, or other Medicare health plan that offers Medicare prescription drug coverage. You get all of your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage, and prescription drug coverage (Part D), through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called “MA-PDs.” You must have Part A and Part B to join a Medicare Advantage Plan.

How to join a drug plan

Once you choose a Medicare drug plan:

  • Enroll on the Medicare Plan Finder or on the plan’s website

  • Complete a paper enrollment form

  • Call the plan

  • Call 1-800-MEDICARE (1-800-633-4227)

When you join a Medicare drug plan, you’ll give your Medicare number and the date your Part A and/or Part B coverage started. This information can be found on your Medicare card.

Do note, however, if you decided not to join a Medicare Prescription Drug Plan when you were first eligible for Medicare, and don’t have other creditable prescription drug coverage or Extra Help, you’ll likely pay a late enrollment penalty.

Note: joining a Medicare drug plan may affect your Medicare Advantage Plan

If your Medicare Advantage Plan (Part C) includes prescription drug coverage and you join a Medicare Prescription Drug Plan (Part D), you’ll be un-enrolled from your Medicare Advantage Plan and returned to Original Medicare.

To learn about Medicare, the eligibility requirements, and all the options available to you, seniors should visit www.medicare.gov, a federal government website managed by the Centers for Medicare & Medicaid Services.

 

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writer: Ryan Allen