A Medicare prescription drug plan (Part D) provides coverage for the prescription drugs you need. A Part D prescription drug plan does not pay for 100% of your prescription costs, but it reduces the amount you will have to pay. A prescription drug must be on the prescription drug plan’s formulary for it to be covered. Coverage and copays are generally based on a drug’s tier–usually Tiers 1-5–with the lower tier drug will generally cost less than a higher tier drug.
Even if you don’t currently take any prescription drugs, it is recommended to sign up for Part D. If you don’t enroll in a Part D plan, and you don’t have other creditable prescription drug coverage (such as drug coverage through an employer), and you don’t qualify for Extra Help, you’ll likely pay a late enrollment lifetime penalty when you do join.
There are two ways to get Medicare drug coverage:
There are four payment stages for Medicare Prescription Drug Plans:
When your life is full of choices, choosing your insurance can sometimes be very confusing–but it doesn’t have to be.
At Bethany Boos Insurance, we look forward to helping you navigate your insurance needs in any way possible, including with a free quote for one of our many plans. We can help you compare your options and choose the plan that best fits your healthcare needs and budget. We work with the top insurance carriers, so we can provide unbiased guidance and help you find the plan that’s right for you.
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We’re here to help you every step of the way.
*Medicare/CMS has neither reviewed nor endorsed this information. Bethany Boos Insurance, LLC is not connected or affiliated with any United States Government or State agency. Contacting us will direct you to an independent licensed broker.
**By submitting this form and providing this information, you agree that a licensed insurance agent may contact you by phone, e-mail or mail to answer your questions and provide additional information about Medicare Advantage, Part D or Medicare Supplement Insurance Plans. This is a solicitation for insurance.