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Today's Medicare Plans specializes in Medicare Health and Prescription Drug Plans (Part- D) for seniors. We provide one-on-one consulation and benefits review. We offer Medicare Advantage, Medicare Supplement and Part-D drug coverage.
We also provide Medicare plans for dual eligible (Medicare & Medicaid) participants and individuals on social security disability for at least two years. We represent a number of quality insurance companies that specialize in Medicare Plans.
Please visit our affliate site www.aboutcentury.com for more detailed information on some of our other retirement services. Please call us at 800-458-7805 to further discuss your needs and to set a time to meet.
What Is Part D (Medicare Prescription Drug Coverage)?
Medicare prescription drug coverage is insurance run by an insurance company or other private company approved by Medicare. There are two ways to get Medicare prescription drug coverage:
Medicare Prescription Drug Plans. These plans (sometimes called "PDPs") add drug coverage to Original Medicare, some Medicare Cost Plans, some Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans.
Medicare Advantage Plans (like an HMO or PPO) are other Medicare health plans that offer Medicare prescription drug coverage. You get all of your Part A and Part B coverage, and prescription drug coverage (Part D), through these plans. Medicare Advantage Plans with prescription drug coverage are sometimes called "MA-PDs."
If you decide not to join a Medicare drug plan when you're first eligible, and you don't have other credible prescription drug coverage, you will likely pay a late enrollment penalty.
What Is The Cost of Medicare Prescription Drug Coverage?
Each plan can vary in cost and drugs covered. Generally Part-D plans include generic, brand and preferred drugs up to $2,830 per year. Most plans will have copays or co-insurance for a one or three month supply. Some plans include generic drugs through the "donut hole" which was between $2,830 and $4,550 in 2010. These numbers are subject to change each year as determined by The Centers For Medicare and Medicaid Services also referred to as CMS.
Your Part D monthly premium could be higher based on your income. This includes Part D coverage you get from a Medicare Prescription Drug Plan, or a Medicare Advantage Plan or Medicare Cost Plan that includes Medicare prescription drug coverage. If your modified adjusted gross income as reported on your IRS tax return from 2 years ago (the most recent tax return information provided to Social Security by the IRS) is above a certain amount, you will pay a higher monthly premium. For more information, visit Social Security's website.
It is important to review the insurance companies prescription drug formulary prior to selecting a plan to be sure that your drugs are covered. Each companies formulary may be different or cover certain Rx drugs on a different tier level which may affect your overall cost.
Many people qualify to get Extra Help paying their Medicare prescription drug costs but don't know it. Most who qualify and join a Medicare drug plan will get 95% of their costs covered. Don't miss out on a chance to save.
How Do I Get Medicare Prescription Drug Coverage?
To join a Medicare Prescription Drug Plan, you must have Medicare Part A or Part B. To join a Medicare Advantage Plan, you must have Part A and Part B. You must also live in the service area of the Medicare drug plan you want to join.
