Although many individuals realize they need Medicare Part D Prescription Coverage as they approach age sixty-five and prepare to enroll in Medicare, many are often confused by the options available. One of the most common questions asked by senior citizens concerns comparing Medicare Part D Plans.
Medicare Part D plans for prescription coverage vary from state to state and plan to plan. Medicare Part D plans are private plans designed to help offset the cost of prescribed drugs. These Medicare Part D plans are sold by individual insurance companies who contract with the government.
To determine which Medicare Part D Plan an individual may be eligible for the individual should know that the Medicare Part D plans are specific to the state in which he lives. He should contact his Medicare Office for a list of government approved private insurers in his state that offers Medicare Part D prescription coverage. Once he has a list of the insurers the individual should consider which prescription drugs he needs. If generic drugs can be substituted for brand drugs the individual should determine which plan pays for generics. If the individual takes a prescribed drug for which there is no generic he should find a plan that covers brand drugs as well as generic drugs.
Many of the Medicare Part D Plans have deductibles for brand drugs but not for generic drugs. While the primary concern is to find the plan that covers the prescription drugs the individual needs, the secondary comparison should be to determine the deductible amount versus the insurance premium.
Generally speaking Medicare Part D pays for prescription drugs. However, it is important to note that not all Medicare Part D prescription drug coverage will cover the drugs an individual needs. There are several Medicare Part D plans available in each state. The individual is responsible for comparing the plans and selecting the plan that will best cover his needs based on the medications he is prescribed.
It is best to make a list of all prescription drugs that an individual needs and takes. If a generic drug can be substituted for a brand drug the individual should be aware that many of the Medicare Part D plans offer payment for generic drugs even if the brand drug is not covered. Each government approved private insurer offers several plans from which to choose. Check the availability of plans and determine which plan will cover the drugs the individual needs. After careful comparisons it is probable that the individual can find a Medicare Part D plan that will help offset most, if not all, of his prescription drug costs.