Medicare Part D
Medicare Part D is the prescription drug benefit with Medicare program. This program helps cover the cost of prescription drugs, including brand-name and generic medications, and is available to anyone who is eligible for Medicare, regardless of income or health status. These plans, while regulated by the federal government, are offered by insurance companies.
To enroll in a Medicare Part D plan, you must first have either Medicare Part A or Part B. You can enroll during the initial enrollment period when you first become eligible for Medicare, or during the annual open enrollment period from October 15th to December 7th each year.
Once enrolled, you will typically pay a monthly premium for your Medicare Part D coverage, along with any applicable deductibles, copays, and coinsurance. The exact cost and coverage details will vary depending on the specific plan you choose.
It's important to note that if you don't enroll in a Medicare Part D plan when you're first eligible and you don't have other creditable prescription drug coverage, you may have to pay a late enrollment penalty if you decide to enroll later. So, it's important to carefully consider your options and enroll in a plan that meets your prescription drug needs and budget.
Why Stevens and associates?
Here at Stevens and Associates, our Part D review team completes a comparative analysis based on our unique 14 point review. It is not just about your medications, but how many medications are covered by that plan, the appeals process, the pharmacy you will use, if retail or mail order and much more. Our team observes and recommends all available Part D plans available to you. Additionally, we not only help you find the right Part D plan for your situation when you first enroll in your Medicare Supplement through us, but our team manages your Part D annually as the insurance company changes their plans.