Addressing Confusion about Medicare Part D

Many people that have Medicare benefits are confused about Medicare Part D. There are a great many individuals who do not understand Medicare Part D, which covers prescription drugs. It is estimated that at least 40% of individuals that have Medicare Part D do not understand their coverage.

Part D is designed to cover many of the drug/medication costs of individuals enrolled in the plan. Since Part D is not part of the original basic Medicare coverage, there is usually a separate premium charged. An individual can purchase a Medicare prescription drug plan or a Medicare Advantage Plan.

Both types of plan have limits to them, so it is essential that you research the plans that are available and find out which coverage is right for you. With most plans, you will pay a premium and the plan will pay part or all of your prescriptions. There is extra help available to help individuals on very limited income pay their premiums.

Depending on the plan you choose you could be responsible for up to $2,500 in prescription costs. It is important to consider the cost, the amount of co-pays and the amount of coverage you will have. In addition, there are other supplemental plans – often at little or no cost – from organizations such as AARP, Humana and various other companies. These plans cover some costs that Medicare Part D does not. Sometimes these plans offer a discount on prescriptions. It is important to research the differences in coverage thoroughly.

To research Medicare Part D, determine which prescription plan is right for you, and find any other information, visit the official Medicare website at www.medicare.gov or call 1-800-MEDICARE (1-800-633-4227) and ask a representative for the information you need. You can also check for supplemental plans by checking the internet and type “Supplemental Prescription Medicare Coverage” into Google or any other search engine, and you will find several pages of plans.

Make sure to do this immediately if you plan to enroll in any plans, since open enrollment for tis year ends on 12/31/08.