You can sign up for Part D Prescription Drug Plans, which helps cover prescription drug costs, along with other components of Medicare starting three months before your 65th birthday.
It’s important to do this on time because there’s a permanent premium surcharge for enrolling more than three months after your 65th birthday if you don’t have equivalent drug coverage from another source, such as a retiree plan.
Let Us Help You With Your Enrollment
If you are already enrolled in a Part D “standalone” plan or a Medicare Advantage plan that incorporates drug coverage, you can switch plans during the open-enrollment period, which runs from Oct. 15 to Dec. 7 every year.
Part D Costs:
Varies by plan. You may have to pay more, depending on your income.
Avoid paying a penalty:
- Join a Medicare drug plan when you first get Medicare Part A and/or Part B, and
- Don’t go 63 days or more without
(coverage that’s similar in value to Part D).
Find out more about the Part D penalty.
Choosing A Plan
It pays to review your Part D coverage every year, especially if you have started taking new drugs.
- Start at medicare.gov, where you can find the basics about the benefit and Part D plans. There’s a link to the Medicare Part D Plan Finder, which allows you to compare offerings and coverage options in your area and includes a helpful formulary finder that allows you to compare plans based on their coverage of your personalized list of drugs. It will even show you your monthly out-of-pocket drug cost for the year
Call us to help you understand your options.
Getting Financial Help
Individuals with annual incomes of less than $23,475 and financial resources and resources of less than of less than $17,600 or married couples with resources less than $35,130 and incomes of less than $31,725 might qualify for Extra Help from Medicare to pay their Part D premiums and out-of-pocket drug costs.
Call us to help you understand your options.
Disclaimer:
This is a solicitation for insurance.
Medicare has neither reviewed or endorsed this information. Not connected with or endorsed by the United States government or the federal Medicare program.