If you are enrolled in Medicare Part A or Medicare Part B, you may also be interested in getting your prescription drug coverage through Medicare. If you aren’t sure whether you’re eligible for Part D coverage, here’s everything you need to know.
What Is Part D?
Medicare Part D is the prescription drug coverage component of the Medicare program. Through Part D, millions of Americans receive affordable prescription drug coverage. The plans are sold by private insurance companies that have contracted with Medicare to provide Medicare beneficiaries with supplemental benefits. Medicare Part D plans are not standardized, but they are closely regulated by Medicare.
Who Is Eligible For Medicare Part D?
To be eligible for Medicare Part D, you must be age 65 or older or diagnosed with a qualifying disability. You must also be enrolled in Medicare Part A, Medicare Part B, or both.
How To Enroll In Medicare Part D
To enroll in Medicare Part D, you need to contact a company that sells the plan you desire. A Medicare agent can help you with this at no charge. Contact Medicare With Jake to start searching for Medicare Part D plans.
What Does Part D Cover
Medicare Part D plans cover a list of drugs that are stated in the formulary. The formulary also states how much drugs will cost members of the plan.
All Part D plans are required to cover the following categories of drugs:
- HIV/AIDS treatments
- Antidepressants
- Antipsychotic medications
- Anticonvulsive treatments for seizure disorders
- Immunosuppressant drugs
- Anticancer drugs (unless covered by Part B)
Find Part D Prescription Drug Coverage
Remember, Part D plans are sold by private companies. Therefore, they aren’t standardized. To find a plan that fits your needs and budget, you may need help from an insurance professional. The experts at Medicare With Jake are ready to assist you.
Call us at (833) NOW-JAKE to get started with a free quote and consultation.
