Medicare Part D covers the costs of prescription drugs. It is an optional Part of Medicare. Should I enroll in Medicare Part D? What will Medicare Part D mean for me?
Medicare Part D is an optional Part of Medicare coverage. However, most senior citizens consider it a valuable part of their health care coverage. Senior citizens often require prescription drugs on a regular and ongoing basis as they grow older. There are many questions that Medicare beneficiaries have about Medicare Part D.
What Does Medicare Part D Mean For Me?
Medicare Part D pays a large portion of prescription drug coverage. The Medicare beneficiary who enrolls in Medicare Part D will be required to pay a premium for the coverage and in most cases he will have to pay a deductible and some co-pays. The benefits often far outweigh the cost of the coverage. Due to the rising costs of prescription drugs and the probability that as
the individual ages he will need more medication Medicare Part D can be one of the most beneficial Parts of the Medicare plan.
Should I Enroll In Medicare Part D As Soon As I Am Eligible?
Unless the individual has an insurance plan that pays the cost of his prescription drugs it is usually wise to enroll in Medicare Part D as soon as he is eligible. If the individual waits to enroll at a later date penalties can be assessed when determining the premiums. It is far better to join Medicare Part D during the initial open enrollment than to wait. Enrolling when first eligible could save hundreds of dollars a year in prescription drug costs.
What Happens If My Prescriptions Change Over Time?
Each year during the last six weeks of the year Medicare beneficiaries are offered the opportunity to change Medicare Part D plans. It is always wise to shop for the Medicare Part D that best covers the prescriptions the individual is required to take. Once enrolled the individual can change coverage annually to better suit his needs without paying a penalty.