Medicare Part D Prescription Drugs

Medicare Part D is how Medicare refers to a Medicare RX plan. Everyone over the Age of 65 is required to have drug coverage. It can either be obtained from your employer, if you continue to work and that coverage is deemed creditable (i.e. it is as good or better than what medicare says must be minimally offered.), or by purchasing a stand alone drug plan from an insurance company, or by purchasing a Medicare advantage plan that includes a drug plan.

Each Medicare drug plan has its own list of covered drugs (called a formulary). Many Medicare drug plans place drugs into different "tiers" on their formularies. Drugs in each tier have a different cost.

A drug in a lower tier will generally cost you less than a drug in a higher tier. Your prescriber may think you need a drug that's on a higher tier. If so, you or your prescriber can sometimes ask your plan for an exception to get a lower copayment.

A Medicare drug plan can make some changes to its formulary during the year within guidelines set by Medicare. If the change involves a drug you're currently taking, your plan must do one of these:

• Provide written notice to you at least 60 days prior to the date the change becomes effective
• At the time you request a refill, provide both of these:
  • A written notice of the change
  • A 60 day supply of the drug under the same plan rules as before the change

Find out which plans cover your drugs

By clicking this link, you will be directed to a different website.

You'll make these payments throughout the year in a Medicare drug plan:

• Premium
• Yearly deductible
• Copayments or coinsurance
• Costs in the coverage gap
• Costs if you get Extra Help
• Costs if you pay a late enrollment penalty

Your actual drug plan costs will vary depending on:

• The drugs you use
• The plan you choose
• Whether you go to a pharmacy in your plan's network
• Whether the drugs you use are on your plan's formulary
• Whether you get Extra Help paying your Medicare Part D costs.

Look for specific Medicare drug plan costs, or you can call me and I will help you find a plan that is right for you.

Medicare Made Easy

Medicare is very complicated and can seem overwhelming. We break it down in an easy and understandable way to help you make smart decisions about your Medicare options. We take the confusion away making Medicare easy.

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