Getting The Most Out Of Your Insurance Coverage: Prescription Drug Plans
As time goes on and you grow older, it is likely at some point that you will eventually need to see a doctor and get a prescription to help alleviate unwanted symptoms. Although prescription drugs can improve your wellbeing, their cost can also add up financially. Fortunately, there are insurance options available that can help lessen those costs. If you are located in Madera, California, and have questions about your healthcare insurance options, Value Insurance Agency is here to help. Read on to learn more about your prescription drug plan options.
Understanding Medicare Part D
For policyholders over 65 years old, Medicare is one of the most common types of healthcare insurance, and once enrolled in Original Medicare, there are options to add additional coverage types to supplement any coverage gaps. Medicare drug coverage, also called Medicare Part D, assists in the payment of generic or brand name drug prescriptions. Medicare Part D is an optional coverage that is purchased through a Medicare approved private insurer. A policyholder selects their prescription drug plan, and then pays a monthly premium for that coverage; every plan type will vary in both price and the type of drugs that are covered. It is important to note that in order to receive Medicare Part D, a policyholder must be living in the plan’s service area within the United States and already be enrolled in Medicare. Medicare Part D can cover a wide variety of prescription drug types, including drugs to treat illness such as cancer and HIV, as well as antidepressants.
Medicare Part D Coverage Options
There are two main options for how a policyholder can get Medicare Part D coverage, they can opt for a stand-alone prescription drug plan or get a Medicare Advantage prescription drug plan. A separate Medicare drug plan essentially adds prescription drug coverage to Original Medicare, (which covers basic hospital and medical care), and other qualifying health insurance plans. A Medicare Advantage plan, also known as Medicare Part C, bundles Medicare Part A, Part B, and in some cases, Part D, which covers prescription drug coverage. If you are currently enrolled in Medicare, and want to explore your prescription drug plan options, there is a convenient online portal for policyholders to utilize to select the best option for their situation.
Get Help Understanding Your Prescription Drug Coverage Options
Having a good prescription drug plan can help ease the financial obligation of getting necessary treatment and relief from unpleasant symptoms. If you are interested in learning more about your healthcare insurance options in Madera, California, Value Insurance Agency can work closely with you to determine the type of plan that works best for you with none of the sales pressure that you sometimes experience with other companies. Contact our office today for a consultation.
