I think that it is important that the older population is well-informed about what, when how about their Insurances so here is some information I hope will help. I will be bringing some more information on different Plans.
To help Medicare recipients pay for their prescriptions, private companies are contracted to administer Medicare benefits. The name of the Prescription Drug Plan is called Medicare Part D. At participating pharmacies Medicare Part D covers both brand name and generic prescription drugs.
There are two types of Medicare Part D coverage:
Prescription Drug Plans (or PDP plans, also called Stand-alone plans only offer coverage fore prescription drugs.
Prescription drug coverage plus medical coverage for doctor visits and hospital expenses is called Medicare Advantage plus Prescription Drug (MA-PD) plans.
A list of government-approved medications the plan will cover is called a formulary. These lists may be referred to as PDL’s or CML’s. As these lists will vary from one plan to another you may wish to review the plan's Prescription Drug List to be sure it will meet your needs.
Part D plans may have a monthly plan premium and a yearly deductible and will vary from plan to plan.
A copayment or coinsurance will be up to you to pay and also varies according to the Plan that you choose.
To find out whether you qualify for extra help for your prescription drugs call: you can call:
1-800-MEDICARE (1-800-633-4227) 24 hours a day, 7 days a week. TTY/TDD users please call 1-877-486-2048.
The Social Security Administration at 1-800-772-1213 between 7:00 a.m. and 7:00 p.m. Monday through Friday. TTY/TDD users please call 1-800-325-0778.
Your state Medicaid office.
I know that all of this can be very confusing, so please don’t be afraid to ask for help so that you get exactly what you need and want.