What is Medicare Part D?
Part D is one of the more asked about plans. It is only provided through private insurance companies which have a legal agreement with the government directly. Only Part D coverage that works with your Medicare health benefits is allowed.
Medicare Supplement Part D was designed to work with Medicare Part A and B. The Medigap coverage, aka Prescription Drug Plan, was created to provide Medicare recipients with additional coverage for prescription drugs. Stand-alone Part D is not allowed and is not provided by the government. Here are some additional facts you should know:
- Do NOT confuse it with Plan D
- When can I join, switch, or drop a Medicare drug plan? When you first become eligible for Medicare, you can join during your Initial Enrollment Period and when you lose group coverage.
- If you get Part B for the first time during the General Enrollment Period, you can also join a Medicare drug plan.
- During Open Enrollment, between October 15–December 7 each year. Your coverage begins on January 1 of the following year, as long as the plan gets your request during Open Enrollment
- At any time if you qualify for Extra Help.
If you have questions regarding Medicare Supplement Part D or any other Medicare questions feel free to contact a licensed agent today for more information.