Medicare Prescription Drug Plans
To avoid the Part D Late Enrollment Penalty you must have creditable drug coverage within 60 days of becoming eligible. Many Medicare Advantage Plans include Part D Prescription Drug coverage, however Medicare Supplement Plans do not.
Remember that all Prescription Drug plans are not the same, this includes the prescription drug coverage included with a Medicare Advantage plan. Each Prescription Drug Plan has there own Formulary (that is a list of drugs they cover). Each plan also tiers, usually 1-5 (some companies have 6 tiers). Just because a drug is Tier 2 with one plan, does not mean it is Tier 2 in another.
Premium, copays and coinsurance, deductibles, pharmacy network and prior authorization requirements are all things that can vary from plan to plan.
As an independent agent, I use the tools provided by Medicare to assist you in selecting which drug plan will work best for you. But remember that with a drug plan, a formulary can change each year, or even mid year.
I review plans with my customers on an annual basis to insure that the prescriptions you require will be covered in the most economical manner.
Click here to contact me or call me at (458) 205-8398.