What is Medicare Part D?
Medicare Part D is prescription drug insurance coverage for those who are eligible under Medicare. The coverage is not directly available from Medicare but is provided through private health insurance companies. These companies have contracted with Medicare to provide this coverage.
There are four things to consider before choosing a plan:
1. Your Cost. When you consider the cost of your plan, you should look at:
- Premium - the amt you'll pay each month.
- Deductible - the amt you'll pay before your plan starts to share your cost.
- Co-pay - a fixed amt you'll pay for medicines after you reach
your deductible. - Coinsurance - a fixed percentage you'll pay for medicines after
you reach your deductible.
2. Whether your medicines or equivalents are covered.
Contact Community CCRx to determine if your medicines are covered, or if there are lower-cost medicines
available. You can also ask what your monthly cost will be for any given medicine.
3. Whether pharmacies you use are included in the network.
Is your pharmacy included? If you have a pharmacy you visit regularly, ask your
pharmacist if they accept Medicare. Cookeville MedPlus Pharmacy accepts all major Medicare prescription drug coverage plans.
4. What your future needs will be.
What does the future hold? It's hard to predict. In the United States, at least 80% of older adults take one or more prescribed medicines, according to the American Geriatrics Society. So, even though you may not take medicines now, it is important to consider what you may need in the future.
5. Extra Help for Limited Incomes
The Federal Government recognizes that some people may need extra help paying for their prescription medicines. To see if you are able to receive assistance, call the following numbers listed to the right under 'Contact Medicare'
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Contact Medicare: |
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Social Security Administration |
