Part D is a part of original Medicare. This coverage is sold and managed by private insurance companies, but they must meet the standards Medicare has set. Medicare prescription coverage Part D is available to anyone who has Medicare. The drugs that are covered by this plan vary by the insurer, so it’s best to check into a plan carefully before you sign up for Part D to make sure any medication you need is covered. You can ask to see the formulary for a plan before signing up. This is a list of the drugs it covers, but be aware that it can change periodically. Sign up for Part D at your first opportunity to avoid late enrollment penalties later on. Ask an insurance expert about exceptions to this rule, as there are some, if you have other, acceptable drug coverage.
It can seem quite complicated to sort out the different parts of Medicare and what is or is not covered. It gets even more so because you’ll be getting contacted by multiple companies who want to convince you that their coverage is the best.
To make sure you get what you need, talk to an insurance specialist who can explain several different programs to you, including the cost and the benefits of each. Look for coverage that you are comfortable with, and be sure that the things you most need are covered, if at all possible.
Don’t forget to consider your lifestyle as you’re making your decision; people who travel outside the country often may opt for a different plan than those who don’t, while people who want dental coverage are likely to prefer a Medicare Advantage plan rather than selecting original Medicare. Once you’ve decided, sign up at your earliest opportunity and let Medicare go to work for you.