Medicare Part D Plans: What You Need To Know

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If you are 65 years or older — or under 65 with certain disabilities — you may qualify for a Medicare Part D plan. Anyone covered by Medicare is eligible for prescription drug coverage.

You don’t need to sign up for Medicare Part D if your current prescription drug plan is better than or equal to Medicare's prescription drug plan.

Private insurance companies approved by Medicare provide consumers with Medicare Part D plans. You may even qualify for cost assistance with your Medicare Part D coverage through a low-income subsidy based on income and asset requirements. This Extra Help may be worth up to $4,000 a year. Find out if you qualify here in 15 minutes or less.

Tips on Shopping for Medicare Part D Plans

There are different types of Medicare Part D plan options. These plan options change from year to year.  Here are six tips you should consider when shopping for Medicare prescription drug plans:

  1. Do you know what prescriptions you take? Ask your pharmacist for a list.
  2. Do you already have prescription drug coverage through another insurance plan?
  3. Do you want to be able to get your prescriptions by mail?
  4. Do you want to stay with the pharmacy you are using now?
  5. Review the premium and annual deductible of any Medicare Part D plans.
  6. Review plan benefits before you enroll.

Starting your search for a Medicare Part D plan may not seem easy, but educating yourself before you begin can help.

Where Can I Get Medicare Part D Insurance?

If you are over 65 and don’t have prescription drug coverage, it’s worthwhile to consider getting a Medicare Part D plan. There are thousands of plans with a wide range of premiums and benefits. While sorting through the large amount of information regarding these plans, you may need the help of a knowledgeable agent to help you start your search.

HealthMarkets has thousands of knowledgeable, licensed agents. Plus, we’re available over the phone 24 hours a day, seven days a week, and our service is free.

In addition, we provide a user-friendly online experience to help find the right Medicare Part D plan for you. To find a licensed agent, contact us!

HMIA001889

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Sources:

Medicare: https://www.medicare.gov/sign-up-change-plans/decide-how-to-get-medicare/whats-medicare/what-is-medicare.html
Medicare Interactive: http://www.medicareinteractive.org/page2.php?topic=counselor&page=script&script_id=451

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