Medicare Drug Plans

Everyone who signed up for Medicare has access to Medicare drug plans that are part D of Medicare and are also known as “PDPs”. However, you must first join one of the Medicare drug plans to receive coverage for prescription drugs. The available plans will vary by types and cost of drugs covered. A Medicare Advantage Plan also offers the benefit of comprehensive Medicare prescription drug coverage.

Medicare drug plans are insurance policies formulated to assist members take care of the cost of any required prescription drugs at any time. These plans can aid members to save reasonable amounts of money on the cost of prescription drugs. The insurance companies work hand in hand with Medicare to provide this service and the drug insurance plans are available to you no matter what your drug costs, illnesses, or income may be.

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Anyone who enrolled in Medicare Part A and/or Part B is qualified to join a Medicare Prescription Drug Plan; but if you have a Medicare Advantage Plan, you will need Part A and Part B. You can enroll for one of the Medicare drug plans by completing an application form, joining via the plan’s website, using a MPDPF LINK or calling a telephone helpline. There is also a 1-800-MEDICARE telephone number you can call. Families would also receive a handbook in a mail named “Medicare and You”. Companies who provide Medicare drug plans are not permitted to contact you directly, but you are allowed to contact them to get more information about enrolling for their plan. Local community groups are also available to offer advice that will help with choosing the right plan.

Between November 15 and December 31 each year, plans can be signed up for or changed over. Coverage will then commence from January 1 the following year. Because the plans are being set up by companies in the private sector, all Medicare drug plans will differ. This implies that some members may be restricted to being able to only use certain pharmacies. There are some plans that may also cover only certain drugs. All of these factors imply that it is imperative you pick the plan that will adequately suit your requirements. Just like any service, it is very imperative that you check the details before enrolling. With regards to difference in choice of drugs and costs, some plans report high levels of customer satisfaction, while others do not.

The costs of the Medicare drug plans will differ depending on the drugs which are used and whether you are entitled to help with the cost of your Medicare Part D. If you think that you may qualify for help with the costs, you need to contact the Social Security Administration to get further information about applying.

The Obama administration introduced a new law designed to benefit Medicare patients who belong to the coverage gap referred to as the “donut hole”. This refers to a period of time where the patient themselves must pay for all the prescription costs. The new law stated that patients who signed up for Medicare Part D will qualify for a rebate of $250 from Medicare when they enter the coverage gap.