In 2006, Medicare began covering some prescription drugs taken at home. It introduced Part D drug plans, which are actually operated by private insurance companies with oversight by Medicare. At Adler Insurance in Prescott, we are here to answer all your questions about Medicare Part D.
The Centers for Medicare and Medicaid Services (CMS) or Medicare is responsible for the administration of the Medicare Part D prescription drug program. There are approximately 40 to 50 Medicare Part D prescription drug plans (or PDPs) available in each state or CMS region.In general, Medicare Part D prescription drug plans provide insurance coverage for your prescription drugs - just like other types of insurance. If you join a Medicare Part D prescription drug plan, you will pay a monthly premium ranging from only a few dollars up to over 100 dollars.
Some Medicare Part D or Medicare Advantage plans have an initial deductible where you pay 100% of your prescription costs before your Part D prescription drug coverage or benefits begin. Please note, that you may pay a higher monthly premium for Medicare Part D plans with no initial deductible. Also, the amount of the initial deductible can (and probably will) change each coverage year.
Make a list of the drugs the potential subscriber to the plan needs. Then check with each plan to see which drugs are included in what's called its drug formulary. If more than one plan covers all the drugs, choose the plan that has the fewest restrictions on access to those drugs and the lowest total costs.
Medicare's website has information about Part D drug plans available where you live, including the medications currently in each plan's formulary. Or you can contact Adler Insurance Inc., by visiting http://www.adlerlifehealth.com or give us a call at (928)710-1455.
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