If you’re headed into retirement sooner, then it’s important that you learn about Medicare. Medicare was created to provide health insurance for those that are 65 and older. Medicare is an excellent way to save money and make sure that you still have access to great healthcare, even after you’ve lost employer health coverage.
Medicare plans
There are multiple different types of Medicare plans. Original Medicare consists of Parts A and B, which is what you most likely enrolled in first when you became eligible for Medicare. However, as you may have found out, Original Medicare does not include coverage for prescription drugs, but it does allow for the option to enroll in Part D.
Part D
Part D is the best way for those that are enrolled in Original Medicare to get prescription drug coverage. If you find that you spend a lot of money at the pharmacy, then you should consider if Part D could be the right option for you. There are a variety of Part D plans that you can choose, depending on the types of medications that you want coverage for.
If you are considering a Medicare Advantage plan, keep in mind that most will already include prescription drug coverage. However, you will want to confirm with the plan to ensure that it provides the coverage you need for the specific prescriptions you take.
Making the switch
The best time to switch Part D plans is going to be during the Annual Enrollment Period. During this time, you can make changes to your policy without there being any penalties or additional costs. The Annual Enrollment Period lasts from October 15 to December 7 every year.
Do you want to discuss your options with a professional?
If you’re considering making changes to your Part D plan, one of the best things you can do is speak with a professional. Our Medicare agents are here to provide you with guidance and to help you make the best coverage decisions. Give us a call today to set up your free Medicare consultation with one of our Medicare experts.
