Medicare Part D Prescription Drug Plans
What is Medicare Part D?
Medicare Part D is the last of the four parts of Medicare. It provides a voluntary option to expand your Medicare benefits with a private prescription drug plan.
These plans are very affordable, and enrollment is super simple. Our independent insurance agency helps you shop Medicare Part D Prescription Drug plans, which saves you both time and money.
Are You Looking to Enroll In Medicare Part D?
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Our independent agency helps you shop and compare plans to find your lowest cost option.
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Most People Need Prescription Drug Coverage
Prescription drugs have become a part of daily life for most elderly Americans. Few people can afford the high cost of prescription drugs without an insurance policy, which is why the vast majority of Medicare beneficiaries enroll in Medicare Part D.
The current system is broken. Currently, drug manufacturers have incentives to set higher prices. And doctors have incentives to recommend higher-cost drugs.
As a result, prescription drug costs continue to soar. The Trump Administration is currently working on making significant changes to the current system. For now, prescription drug plans are almost a necessity for middle-class Americans.
There are two ways to get prescription drug coverage through Medicare:
- Part D
- Medicare Advantage
Expanding your benefits with Part D is the lowest cost option. However, Medicare advantage provides additional benefits such as vision, dental, and hearing to go along with prescription drug coverage. We recommend exploring both options.
What Drugs Are Included Within Medicare Part D Plans?
Only providers contracted with Medicare can sell Medicare Part D policies. Medicare mandates that all contracted providers offer at least two drugs in all major prescription categories. This rule ensures you get the medications you need.
Most plans cover more than two drugs per category. However, there is no requirement for which drugs a provider must supply. Therefore if you’re looking to cover a specific prescription, we highly recommend requesting help from one of our knowledgable agents. We’ll help you check a carrier’s formulary list to ensure coverage of the drugs that you need.
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Who’s Eligible for Medicare Part D?
All Medicare beneficiaries are eligible for Medicare prescription drug coverage.
If you are not eligible for Original Medicare, then you cannot purchase a Part D policy.
Here are the categories that make you eligible for Medicare.
- Age 65 or older
- U.S Citizen
- You have a qualifying disability for which you have been receiving Social Security Disability Insurance for more than two years.
- You have been diagnosed with End-Stage Renal Disease.
When to Enroll
There are multiple Medicare enrollment periods in which you may purchase a Medicare Part D policy.
Your initial Medicare enrollment period is the first chance you’ll have to sign up for a plan. This period begins three months before your 65th birthday, includes your birthday month, and continues for the following three months. There is no penalty if you choose not to sign up for Medicare Part D during your initial enrollment.
Medicare plans are for one year at a time. Each year you can add, drop, or change your plan during the Open Enrollment Period – October 15th to December 7th.
Insurance carriers also change their plans every year. Each year contracted insurance carrier submit a formulary list of all the drugs included for the upcoming calendar year. This gives you the ability to chose your best plan each year.
Find Your Best Carrier
Remember, Medicare Part D plans are private insurance policies. The carriers who sell these plans operate within State lines. Therefore you purchase from a provider who operates in your State.
Most states have over a dozen options. And our agency will help you shop all the available carriers in your area.
Next Steps: Shop. Compare. Enroll.
Enrolling for Medicare Part D is easier than you might think.
Our streamlined system allows you to shop, compare, and enroll in your best policy in a matter of minutes. Fill out the form on your screen to get started.
Our service is free. And there’s no obligation when speaking with an agent.
We’ve helped thousands of people find affordable prescription drug coverage. We’d love to help you too!
Explore your options today.
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