How Medicare Part D Can Help You With Your Prescription Drugs

​Prescription drugs are another area in health that costs a lot of money. Medicare Part D is an optional plan which covers most prescription drugs. Benefits from the Part D Plan are administered through private insurance agencies. People looking to get this type of plan must pay a small monthly premium, a deductible for every year, and coinsurance for each prescription provided.

Importance of Having a Medicare Part D
Medical bills are not the only expenses that are heavy to pay, but also prescription medications. Drugs are expensive necessities that you can pay for through having a Medicare Part D Plan. Medical Care Parts A and B are limited to medical services, so it is essential to get Part D. Medicare Part D will reduce buying prescription drugs.

How Part D Coverage Works
Original Medical Care Insurance does not manage the Part D plan. It is an insurance policy that contracts with private companies approved to offer its coverage. It comes from two sources:

• PDPs (Prescription Drug Plans) sell prescription drugs that do not provide medical services and are stand-alone companies.
• MA-PDs (Medicare Advantage Prescription Drug Plans) offer hospital, medical, and prescription drugs under one policy. 

Vitamins, supplements, fertility drugs, treatment for erectile dysfunction, or any over-the-counter medications are not covered in Part D plans. At least two or more pills from the most prescribed drug categories but be included in all Part D plans, such as HIV medications, antidepressants, cancer treatment, immunosuppressants, anticonvulsants, and antipsychotics. 
Most plans also cover vaccines without a copay.

Eligibility for Medicare Part D
Part D Plans can be offered to those who have Medical Care Parts A and B. To be eligible, the insured must be at least 65 years old, have received Social Security disability payments for at least two years, and a diagnosis of end-stage renal disease (ESRD) or kidney failure, or there is a need to have dialysis or a kidney transplant. Those under age 20 with ESRD and at least one parent eligible for Social Security benefits are also qualified.

Conclusion
Although Medicare Part D is optional insurance coverage, it has good medical advantages because prescription drugs are costly and often more expensive than medical services. People that have long-term health problems should get this plan to reduce their financial expenses. 

At The Modern Medicare Agency, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (631) 358-5793. Get your free quote today by CLICKING HERE.