Medicare Part D plan is the latest plan that was launched by the federal government. The main aim is to cater for the cost of Prescription drugs which at times is expensive for the seniors who opt to go without it.
Before enrolling for Medicare part D, there is the need for proper education which the government has not done it correctly thereby creating mixed feelings by the seniors.
It has for compartments or rather Tiers, and these are tier 1, Tier 2, Tier 3, Tier 4.
Tier 1 is for the generic drugs.
Tier 2 represents the drugs that are preferred.
Tier 3 represents the non- preferred drugs and
Part 4 is for the drugs that have a specialty.
Private insurance companies such as the United Healthcare are the ones that administer this plan, and each one of them has different costs depending on the county that they are in and they have regular deductibles. The best advice when choosing the Plan is to make sure you know well about the pharmacies near you, the type of drugs they stock and also their costs.
The challenging part of Medicare part D is the enrollment plan, the waiting period which is longer and one may end up spending from his pocket before the plan has been fully activated.
Take a look at Medicare Supplement plans 2019 by going to https://www.comparemedicaresupplementplans2019.com
It’s also important to be aware that the cost of premium payment depends on the tier that you opt for. Also, confirm that you have a formula or rather a list of drugs that are being offered by each tier to avoid any disappointment should you find that the drugs that you need are not available yet you need them at a crucial hour.
There is also the advantage of qualifying for Medicare Part D plans and the following points make one to qualify automatically;
- If you have the original Medicare.
- If you also receive the supplemental security income benefits
- If you have enrolled in the mediocre saving program which at the end of the day will support paying Part B plans.
However, this is determined by the income you receive on a monthly basis. This means that if you stop getting monthly income the following year, then you will not qualify for the same.
Before enrolling for the Medicare Part D drug plans, do thorough research and ensure that you understand all the tiers to be able to make an informed choice.