What is the Medicare Part D drug benefit?
The Part D drug benefit is prescription drug coverage for people with Medicare. Medicare offers Part D to everyone with Medicare. (People enrolled in Medicare are called Medicare beneficiaries.) Part D coverage may help you lower your prescription drug costs and help protect you from higher costs in the future. It can give you greater access to the drugs you need to stay well or treat an illness. To get Medicare Part D drug coverage, you must join a plan that is run by an insurance company or other private company that has been approved by Medicare. If you join a Medicare drug plan, you usually pay a monthly premium. If you decide not to join a Medicare drug plan when you are first eligible (able to join), you may pay a penalty if you decide to join later. If your income and resources are limited, you might qualify for extra help paying Part D costs. We will cover this later in the section “Beneficiary choices.” The plans vary in cost and which drugs are covered and it is hard to compa
A. Medicare is contracting with insurance companies, including Humana, to offer prescription drug plans (PDPs). The PDPs replace the drug discount cards. If you’re considering a PDP, please keep the following in mind: • Optional plan. A PDP is an option – not a requirement. However, if you don’t join a PDP when you become eligible, you’ll have to pay a higher premium if you join later. • Monthly premium. PDPs have a monthly premium in addition to the Medicare premium you already pay. However, some Medicare Advantage plans, including Humana’s, have a PDP included as a benefit without an additional monthly premium. • No overlap with Medicare Advantage. If you’re enrolled in a Medicare Advantage plan, such as an HMO through a private insurance company, you may already have prescription drug coverage. If that’s the case, choosing the PDP isn’t necessary – in fact, getting the PDP would require you to drop your Medicare Advantage coverage. • Benefits and costs. PDP plan benefits vary, but c
A. As of January 1, 2006, anyone entitled to Medicare Part A and enrolled in Medicare Part B, regardless of income, was eligible to enroll in a prescription drug benefit. This benefit was designed to help Medicare consumers handle the rising cost of drugs and give them easier access to prescription medications.
