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Medicare Prescription Drug Plans
Medicare offers prescription drug coverage to everyone with Medicare. If you decide not to join a Medicare drug plan when you're first eligible, and you don't have other creditable prescription drug coverage, or you don't get Extra Help, you'll likely pay a late enrollment penalty.
To get Medicare prescription drug coverage, you must join a plan run by an insurance company or other private company approved by Medicare. Each plan can vary in cost and drugs covered.
Discover the Right Medicare Prescription Drug (Part D) Plan for You
What does it cost?
- Premiums range from $15 - $100+ (can also be inclusive in Part C)
- Deductible- $0 to $320 depending on plan
- Prescription plans have a combination of co pays and coinsurance.
What does it cover?
- Covers prescription drugs which are classified in formularies.
- Formularies are categorized as tier 1 (preferred generic), tier 2 (Non Preferred Generic), tier 2 (preferred brand), tier 3 (non preferred brand), tier 4 (high end or exotics)
- Each plan will have different coverage's for different drugs
What You Don't Know Could Cost You a Bundle...
It is true. Prescription drugs can be the most expensive part of your health care costs. Without a prescription drug plan to pay part of your costs, you could end up spending a small fortune.
Getting the wrong plan for you could also be costly. Medicare Part D plans are not all the same. Each plan uses a different formulary (a list of medications) and a cost structure (called a tier) that determines how much your particular drugs will cost you.
This is why it is so important to work with a local independent insurance agent you can trust who will look at your unique situation to determine the best plan for you.
But what if I don't take medications? Do I still need a drug plan?
Even if you don't take medications now, it may be in your best interest to purchase a drug plan. If you wait, or go without coverage, you could end up paying a penalty later, when you do need the coverage.
Waunch Family Insurance offers most insurance carries Medicare Advantage, Part D and Medicare Supplements plans and only contract with reputable companies we would insure our own family with. CALL Waunch Family Insurance today and ask for Jacob, Annalisa or Mark at 1-800-708-1560. You may also visit our contact page for a FREE, personalized, no obligation in person, over the phone or e-mail analysis of your personal situation. Jacob, Annalisa and Mark are certified local independent insurance agents with over 26 years combined experience. We are happy to review your medical policies and discuss the options available to you in your county, and which plans would be the best fit, tailored to your individual medical situation.