Are you looking for a Medicare Prescription Drug (Part D) plan in Pennsylvania and New Jersey?
Medicare Prescription Drug coverage (Part D) is available to everyone on Medicare and although it is considered an optional benefit, there are very good reasons to enroll in a Medicare Prescription Drug Plan.
The biggest reason is that if you decide not to enroll in a Part D plan when you are first eligible, and you don’t have other creditable drug coverage such as employer group coverage or qualify for Extra Help from the government, you will be assessed a late enrollment penalty. And, you’ll pay this penalty for as long as you have Part D coverage. (You can read more about the Part D Late Enrollment Penalty on pages 77-78 of your Medicare & You handbook).
Another reason to enroll when first eligible, even if you don’t currently take any prescription drugs, is that if and when you are prescribed them, you may have to wait for a valid election period (such as the Annual Enrollment Period) to enroll. This means you may be paying higher out-of-pocket costs for your drugs until you are able to join a plan.
Generally, there are 2 ways to get Medicare Prescription Drug Coverage.
One way to get Part D coverage is through a stand-alone plan that works with Original Medicare.
The other way is by joining a Medicare Advantage Plan that offers prescription drug coverage. These plans are also referred to as Medicare Advantage Prescription Drug Plans or MAPD’s. (Please note that not all Medicare Advantage plans offer drug coverage.)
Either way, plans offered are based on service areas, so you must live within the service area of the Part D plan you wish to join.
How do you Choose a Medicare Prescription Drug Plan?
Choosing the right Medicare Prescription drug plan can be a confusing and daunting task. There are so many plans to choose from, so it is critical that you understand each plans coverage restrictions, deductibles and formularies.
What’s more, each year Medicare Prescription plans change their pricing, coverages and formulary, so it’s imperative that you stay up to date on your plan and formulary. Your prescription plan should be re-evaluated each year during the Annual Enrollment Period which takes place from October 15th to December 7th.
You can find plans in your area on Medicare’s website. Visit Medicare.gov and using the Plan Finder tool, enter your zip code, county and drug information.
Because our agency is independent, we can help you choose a Part D prescription drug plan that fits your needs. Just call our office and a PrimeOptions Insurance agent will be happy to do a thorough drug plan analysis and cost comparison for you.
We provide coverage to residents of the Lehigh Valley, including Allentown, Bethlehem, Easton, and the entire state of Pennsylvania.