How Does Part D Relates to My Supplements?
Medicare insurance is provided folks over the age of 65 in the U.S., as well as people who are permanently disabled and have been receiving social security benefits for 2 years. The program is not designed to be all-inclusive which means that there are some medical costs that arent covered. Most people who are on Medicare also live on fixed incomes and having unknown expenses is not the best thing in the world for them.
Thats why Medicare supplement plans were created to make up the difference. There are four parts to Medicare coverage, and 12 supplemental plans that increase these coverage levels. Part A is hospital care, Part B is doctor and testing care, Part C is the Medicare Advantage Plan, and Part D is prescription drug coverage. Parts A and B basically explain themselves.
Part C is privatized Medicare that can offer more benefits than the original Medicare. It essentially replaces Medicare and is provided through private insurance companies, unlike supplements which work WITH Medicare coverage. There can be some drawbacks, though, to receiving coverage through a Medicare Advantage plan.
Part D is one of the more confusing parts and many people questions what it covers. Its a Medicare program designed to help cover prescription drug expenses for participants. If youre cursed with chronic health issues you likely understand the cost of drugs, and most of them are not covered by Part A and B.
Any drug that is on the original coverage is not part of the separate plan, and cannot be included. If you have a prescription with Part A coverage that requires a $5 co-pay, you have to pay it. It cannot be eliminated by Part D coverage. However, pay close attention because prescriptions covered by Part A and B CAN be covered by a Medigap policy, otherwise known as supplemental Medicare insurance.
Medicare supplemental plans no longer offer prescription coverage. Take the time to consider this because all of your medical expenses should be affordable, not just hospital and doctor costs. Your prescriptions at this point could be critical and you might not be able to live without them.
If you have questions, ask your insurance agent or doctor about which medications are covered so that you can ensure you can afford what is prescribed.
For more information on Medicare supplement and Medigap coverage, visit http://www.gomedigap.com.
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