Looking for a detailed guide of Medicare Part D Prescription Drug Coverage? then you are in the right place.

Medicare part D is a part of health coverage that covers prescription drug coverage that pays for your medication. You can enroll yourself for this when you’re officially eligible for Medicare. This coverage is given by private insurance companies that is why you can choose this plan as an option. But if you enrolled yourself late then you may give a charge as a penalty. The benefits and the cost may vary from plan to plan. There is some Medicare part D coverage that provides along with the Medicare advantages plan

What is Medicare Part D?

Medicare part D is popularly known as prescription drug coverage that helps to cover the drugs bill of Medicare parts A and B. 

As per government rules, 75% of their medication bill is paid by Medicare part D but you still have to pay premiums and deductibles.

Before choosing the plan you need to understand the plan that is

  • To achieve the eligibility of medicare part D you need to qualify for Medicare
  • You need to enroll yourself for either Medicare part A or B or both to qualify for this plan.
  • To avoid late enrollment penalty you have to enroll yourself between October 15 to December 7. 

Coverage of medicare part D:-

Medicare part D covers some of the medications along with some extra benefits. Which medication most of the plan covers are mentioned below

  • cancer treatment medications
  • HIV medications
  • antipsychotics
  • immunosuppressants
  • antidepressants
  • anticonvulsants

Most of the plan covers at least two or more medications with their vaccines with no extra charges. 

The facility that could not be covered by Medicare part D 

There are lots of facilisis that could not be covered by this plan. Those are mentioned below:-

  • medications used to treat anorexia or other weight loss or gain
  • medications prescribed for hair growth or cosmetic purposes
  • fertility drugs
  • medications of erectile dysfunction
  • medications prescribed for the relief of cold or cough symptoms which are not included for diagnosis. 

There are some Over-the-counter drugs that are not covered by this plan which are:-

  • supplements
  • cosmetic and weight loss medications
  • vitamins

Cost of Medicare part D

Costs of the Medicare plan D are dependent on their coverage and benefits. There are some other things that affect your Medicare part D cost that is:-

  • your locations and plans that are available in your area
  • type of coverage that you fit for
  • coverage gaps are also known as “donut hole”
  • your income, that is helpful for your monthly premium of the plan. 

There are also some out-of-pocket cost that affects your premium cost which is:-

  • Monthly premiums
  • Copayments that you pay for each prescription
  • Annual deductible 
  • Coinsurance is the percentage of the actual cost of the medication.

The cost of the plan also depends on your Medicare plans that could be A, B, or C. The cost depends on your location and which prescription drug coverage you need. 

Time to enroll for Medicare Part D:-

There are several time windows when you can get a chance to enroll yourself for this plan as other plans. In this time you can also switch one plan to another. The time windows are mentioned below:-

  • During the initial enrollment period which is 7 months, the time period starts 3 months early of your birth month of age 65 and ends 3 months back. 
  • You can get a chance before 65 if you have any specific disability. 
  • open enrollment period which is between October 15 to December 7
  • general enrollment period which starts January 1 and ends March 31. 

If you enroll in this time you don’t have to pay any kind of late penalty.

You also get an advantage to enroll, leave or switch plans if you qualify for certain criteria which is 

  • Move from the coverage area of ​​your plan
  • If you are in a nursing home or taking a skilled nursing facility. 
  • Your plan does not provide Part D services
  • You want to go into any plan with a higher quality rating
  • lose medication coverage

To choose the best option for you, you have to check and compare the price and star rating of the available plans of your nearest location.