How does Medicare prescription drug coverage work?
Your decision about Part D depends on the kind of coverage you have now. If you have other coverage, like a retiree benefit or VA, you may not need Part D. There are two ways to get Medicare prescription drug coverage. You can join a Medicare prescription drug plan or you can join a Medicare Advantage plan that offers drug coverage. On either plan, Part D will help you by covering brand-name and generic drugs at pharmacies that are convenient for you. Like other insurance, if you join, generally you will pay a monthly premium, which varies by plan, and a yearly deductible (between $0 -$295 in 2009). You will also pay a part of the cost of your prescriptions, including a co-payment or co-insurance. Costs will vary depending on which drug plan you choose. Some plans may offer more coverage and additional drugs for a higher monthly premium. 3. What if I cant afford another monthly premium or deductible? If you have limited income you may qualify to have some or most of your Part D costs p
Your decision about Part D depends on the kind of coverage you have now. If you have other coverage, like a retiree benefit or VA, you may not need Part D. There are two ways to get Medicare prescription drug coverage. You can join a Medicare prescription drug plan or you can join a Medicare Advantage plan that offers drug coverage. On either plan, Part D will help you by covering brand-name and generic drugs at pharmacies that are convenient for you. Like other insurance, if you join, generally you will pay a monthly premium, which varies by plan, and a yearly deductible (between $0 – $310 in 2011). You will also pay a part of the cost of your prescriptions, including a co-payment or co-insurance. Costs will vary depending on which drug plan you choose. Some plans may offer more coverage and additional drugs for a higher monthly premium. 3. What if I cant afford another monthly premium or deductible? If you have limited income you may qualify to have some or most of your Part D costs
