Medicare Part D 2018 (Prescription Drug Coverage)




How to Get Prescription Insurance when on Medicare

Steps

  1. Determine if you qualify for Medicare benefits.
  2. To be eligible for Medicare you must be 65 years of age or have a qualifying disability.
  3. The individual or spouse must have worked for at least 10 years in Medicare-covered employment.
  4. The enrollee must have documentation verifying United States citizenship or be a legal resident.
  5. Get informed on Medicare Part D coverage.
    • Medicare Part A covers hospitalization.
    • Medicare Part B covers doctor visits, lab and nursing facilities.
    • Medicare Part D covers prescription drugs. To participate in a Part D program, you must qualify for Parts A or B.
    • To qualify for a Medicare Advantage Plan, you must quality for Parts A and B.
  6. Join a prescription drug plan approved by Medicare.Prescription insurance plans or supplemental insurance programs must be approved by Medicare. There are two plans offered by Medicare prescription drug coverage:
    • Prescription Drug Plans or PDP adds drug coverage to the basic Medicare coverage.
    • Medicare Advantage Plans offers Medicare prescription drug coverage. The coverage includes Part A, Part B and prescription drug (Part D).
  7. Evaluate private insurance supplemental prescription coverage.Private supplemental Insurance which covers prescription drugs for those enrolled in Medicare is also called "stand-alone."
    • The traditional Medicare Part D enrollment period is from Nov. 15 through Dec. 31 of each calendar year.
    • There are more than 200 private insurance companies approved by Medicare to provide Medicare supplemental insurance.
  8. Understand the insurance coverage before signing the contract.To avoid unethical practices or abuse, Medicare requires that each insurance company follow certain guidelines.
    • The insurance company must agree not to reject policy applications for health reasons
    • The insurer must inform you a physical exam is not required.
    • The company must agree to cancel the policy only for non-payment.
  9. Ask questions regarding the rates and fees for each plan offered.Ask what item makes one plan more expensive than the others. Asking questions will assist in enrolling into the right plan for your needs. The standard features will include:
    • Part D plans require a yearly deductible.
    • There will be a monthly premium.
    • Prices of the premium will vary depending on the plan selected.
    • A 25 percent co-payment will be required.

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  • Ask the insurance company to give you an out-of-pocket cost of your current prescription medication.
  • Inquire if the prescription coverage will include generic and brand name drugs.




Video: Prior Authorization How do you get insurance companies to approve medications

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Date: 10.12.2018, 02:21 / Views: 61173