Medicare Part D
What is Medicare Part D and what does it cover?
Medicare Part D is healthcare insurance provided by United States government-approved private Medicare insurance companies. It covers healthcare expenses for a certain list of drugs referred to as a formulary.
All drugs in the following categories are covered by Medicare Part D
- HIV/AIDS treatment
- Anticancer medication
- Anticonvulsive treatments
- Immunosuppressant drugs
- Antidepressants
- Antipsychotic drugs
It also covers vaccines that do not fall under Medicare Part B.
See which drugs are covered by Medicare Part B!
How Medicare Part D works
When it comes to Medicare Part D, you have to pay monthly premiums and copay prescription drug expenses with your insurance provider and they differ with each plan. Moreover, you need to be enrolled in Medicare Part A and Part B to be eligible for Medicare part D.
When to enroll in Medicare Part D
You can enroll in Medicare Part D during any of the following periods:
- Between three months before and three months after your 65th birthday.
- During the annual election period from October 15th to December 7th.
You can make changes to Medicare Part D coverage during the annual election period. Your Medicare insurance company will send you a detailed account of changes to your plan and you can choose what you want to change or move back to Original Medicare during this period. If you do not wish to make changes to your Medicare Part D plan, you can leave it as is and it will be automatically renewed on January 1st the following year.
Finding the plan that covers all your drugs
Our certified Medicare insurance agents help you compare Medicare plans to find the one that covers all your prescription drugs at unbeatable premiums, giving you value for money.