What Do I Need to Know About Medicare Part D Coverage?
Part D plans, which is the prescription drug plan, vary greatly. When you’re considering these plans, you need to look at how they interact with the medical conditions you have. If you know which medications you’ll need on a regular basis, you can find out how they’re covered by specific plans.
There are specific standards these plans must meet. For example, they typically cover name brand and generic drugs; however, your co-payment will likely be vastly different for a name brand than it would for a generic drug.
The monthly premium for these plans varies. You’ll have to look into how the premiums compare with the savings you’ll receive for the medications you take on a regular basis. Remember to include the deductible in this cost-saving determination. Some plans don’t have a deductible, but others do. You have to pay the equivalent of the deductible on your medications before the plan will kick in.