Prescription drug coverage is an important add-on to Original Medicare. Many Medicare eligible people are unaware that is not included or how much it costs. Since I found it a little confusing, I figured others might too, so I have broken down how to pick the right plan for you.
What is Prescription Drug Coverage
It is prescription coverage for people on Medicare. Original Medicare doesn’t cover (most) prescription drugs, so there are other options to cover your prescription drug needs.
How Much Does Part D Cost?
It depends on how you choose to get your Part D. You can get either get a prescription drug plan separately or through Medicare Advantage. If you choose to go for Medicare and Part D or Medicare/Medigap/Part D combo the average nationwide Part D monthly premium is around $32. If you enroll in a Medicare Advantage plan most of these bundle your health care, prescription drugs, and add extras like dental and vision for a low or $0 monthly premium.
Best Option for Rx
Medicare Advantage is a great option due to its low monthly premium, however don’t forget to research each plan’s drug formulary (list of drugs a plan covers) before locking yourself into a plan. By choosing a separate Part D plan with Medicare and Medigap seems to offer the greatest coverage, according to our clients. The reason is you will not only have nationwide coverage, but you will also have more options in Part D plans and Medigap extends your coverage by adding additional hospital stays, and may cover your Medicare coinsurance, copays, and deductibles.
For further questions about prescription drug coverage call the number above or contact Senior65.com.