The Medicare program is divided into four parts: Medicare Part A, Part B, Part C, and Part D. Under both Part A and B (Original Medicare), you cannot get coverage for prescription drugs. To get prescription drug coverage, you will need to enroll in a prescription drug plan. You can either enroll in Medicare Part D or a Medicare Advantage prescription drug plan.
Now, if you are a new beneficiary, you may be wondering if Medicare Part D is important or not, especially if you currently don’t have any prescriptions you take. At El-Mag Insurance, we aim to help you answer this question so you can get the coverage you deserve!
What Is Medicare Part D?
Medicare Part D is a prescription drug plan that is sold by private insurance companies contracted with Medicare. Each Part D plan is required to cover at least two prescriptions from each drug category, but of course, each Part D plan is different and will even have its own different costs, so when it comes to choosing a Part D plan, you have to compare your options to see which Part D plan is actually best for you.
Is Medicare Part D Important?
Now that you have a better understanding of what Part D is, you may still be wondering if it’s even worth it. The truth is, it depends on your absolute coverage needs, but having a Part D plan, even if you don’t really need it, is always a great step to take in making sure you have the proper coverage! Although, we understand why some may feel differently. Essentially, you’d be paying for a plan to give you coverage that you don’t technically need at the moment.
Our suggestion is to not only look at what your current needs are but at what your future needs might be as well. Even though you might be relatively healthy right now, it doesn’t mean something can’t pop up within the next year or even within the next few months. It’s certainly a scary thing to think about, and we completely understand that. However, with that being said, we also care about you being prepared for the worst, even if the worst never happens. At El-Mag Insurance, we can help you compare the Part D plan options in your area so you can find the coverage you need at a cost you can afford.
Overall, regardless of whether you do or do not need it, Part D is a very important part of Medicare because of its coverage.
Call us today for more information and help with various insurance plans.