Welcome to Stevens and Associates Insurance Agency, Inc! As a full concierge insurance ageny, you can trust us to handle your health insurance needs, and we have more than 65 years of experience for your peace of mind. This blog explores what you should know about Medicare Plan D, and we encourage you to read below to learn more about your options. Contact us today!
What Is Medicare Part D?
Medicare Part D is a program that provides coverage for prescription drugs for people with Medicare. It is a voluntary program administered by the Centers for Medicare & Medicaid Services (CMS). Contact us today to learn more!
Medicare Part D is a stand-alone prescription drug plan available to anyone with Medicare Part A and/or Part B. It is available from private insurance companies that are approved by Medicare. These plans cover generic and brand-name medications that are approved by the Food and Drug Administration (FDA).
Coverage and Costs
Medicare Part D plans have different levels of coverage and costs. Some plans charge a premium, which is a monthly fee for the coverage. Other plans may have a deductible, which is the amount you have to pay before the plan starts to cover your medications.
Late Enrollment Penalties
In addition to the cost of the plan, you may also have to pay a late enrollment penalty if you don't sign up for a Part D plan when you are first eligible. You may also have to pay a higher premium if your income is above a certain level.