Medicare prescription drug coverage is known as Medicare Part D. It is an optional component of Medicare and can be added to your Original Medicare plan, or sometimes included as an added benefit with a Medicare Advantage plan. While you may not feel you need prescription drug coverage now, it’s a good idea to get it sooner rather than later. For every 12 months you postpone coverage, your monthly premium will go up 1%. This penalty is permanent but is easy to avoid by enrolling during your initial enrollment period. 

Are You Enrolled In Original Medicare?

If you are enrolled in and use Original Medicare, you will need to find a separate prescription drug plan to add to your insurance plan. At Better Insurance Management, we can help you compare your Part D prescription drug plan options to ensure you’ll be enrolling in a plan that provides coverage for the prescriptions you need.

Are You Enrolled In Medicare Advantage?

If you are enrolled in both parts of Original Medicare and have opted to get your benefits through a Medicare Advantage plan, you likely already have prescription coverage. While many Medicare Advantage plans offer Part D benefits, there are some plans which do not. Don’t make the expensive mistake of assuming you have coverage without confirming with the plan and insurer. Better Insurance Management will help you find Medicare Advantage plans in your area that offer the coverage you’re looking for.

Keep in mind that if you already have Part D and choose to enroll in a Medicare Advantage plan, you may not be able to have both at the same time. This is especially true if the Medicare Advantage plan already provides prescription drug coverage.

If you are receiving drug coverage through an employer, union, or other government service department, be sure to talk to your plan provider and do a bit of research before making any changes to your existing plans. This coverage may change or drop depending on your Medicare enrollment so you should be prepared for any adjustments.

Have Questions About Part D?

Better Insurance Management is here to help. We understand the importance of having the right amount of coverage. So, if you’re interested in adding on a Part D prescription drug plan or would like a Medicare Advantage plan with drug coverage included, give us a call today.