Medicare Part D - How Is It Different?

​Medicare Part D is a prescription drug program available to those enrolled in Medicare, the public health insurance program available to those age 65 or older and those with disabilities and end-stage renal disease. 

This Medicare Part D plan can help you pay for prescription medications that your health care plan doesn't cover, as well as reduce the cost of many generic drugs that your health care plan may cover.

What are Medicare Part D Plans?
Medicare Part D, which came about due to a 2003 law, is a federal prescription-drug program. 

If you receive Social Security payments and are over 65 years old, you're eligible for Medicare. You may also be eligible if you're on Social Security Disability Insurance or have kidney disease. 

In case you don't fall into one of these categories but pay for your health insurance, there might be an exception for you as well.

What Does Coverage Look Like Under Medicare Part D?
Medicare Part D covers three different types of drugs: generic drugs, preferred brand-name drugs, and non-preferred brand-name drugs. 

Non-preferred brands are also known as specialty or preferred brands. Specialty or preferred medications cover treatment for conditions like HIV, cancer, multiple sclerosis, and rheumatoid arthritis.  

On average, they cost about 50% more than generics under Medicare Part D.

Can You Wait to Get Medications Under Medicare Part D?
One great thing about coverage through Medicare Part D is that you can wait up to 30 days before getting your medication. 

This gives you time to compare prices at different pharmacies to find out where you can get your prescription filled at the lowest cost without having to pay a premium on medication with a specialized brand name.

Drugs Prescription Under Medicare Part D
When a patient enrolls in Medicare Part D, they will be required to choose a private drug plan that they'll use to fill their prescriptions. 

These plans will cover some medications under Medicare Parts A and B, but not all of them. In addition, when a person is enrolled in Medicare Part D, they must accept whatever plan their current insurance provider offers. 

However, there are three different tiers for prescription plans: Basic (which covers 80% of medications), Standard (which covers 95%), and Enhanced (which covers 100%). 

Regardless of which plan you choose, you won't have to pay more than $6 per prescription as long as you follow your health care provider's rules for using generics versus brand-name drugs.

At the Medicare Supplement Store, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (732) 252-8828 or Click Here to request a free quote.