Does Medicare Pay For Prescription Drugs?





The Medicare Prescription Drug, Improvement, and Modernization Act added prescription drug coverage to Medicare beginning in January 2006. This act allowed people on Medicare to get insurance to pay for part of their prescription drugs regardless of income or preexisting conditions.

What Types of Prescription Plans Are Available?

Basically, there are two types of prescription drug plans. One is a prescription drug plan(PDP) that stands alone and allows Medicare recipients to keep their Medicare A& B plan where they pay a fee for services as they are provided.

The other is the Medicare Advantage Prescription Drug Plan(MA-PD) which provides comprehensive coverage.

Private companies provide various plans. Individuals have to assess their needs and select the plan that best meets their needs. Plans vary in the costs of premiums, deductibles, and co-payments. They also vary in their lists of approved drugs and providers.

Who Can Receive Prescription Coverage?

All Medicare recipients are eligible for prescription drug coverage. The open period is between November 15th and December 31st each year with the new plan taking effect on January 1st following the open enrollment period. Enrollment and changes must be made during this time.

What’s New?

A new health care law awards a $250 rebate check to those with Medicare Part D as an attempt to offset the “donut hole” where recipients are covered until they reach a certain amount and not again until they spend an additional out of pocket amount. In 2011, there will be a 50% discount for name-brand drug purchases covered by Medicare D.

Does Medicare Pay for Prescription Drug?

Does Medicare pay for prescription drugs? The answer is yes, through private insurance companies. You just have to find the right plan for you!



8 Responses to “Does Medicare Pay For Prescription Drugs?”

  1. Melinda Gardner says:

    The open enrollment period for 2011 is October 15 through December 7.
    Thank you.

  2. Sue Weaver says:

    Above you said there is a PDP that stands alone; does this mean that I can buy the PDP with Straight Medicare B coverage or do I need to get it through an insurance company (advantage plan)?
    The above is very confusing to me. Please explain!
    Thank you so much. I enjoyed your site.

  3. Herb Summers says:

    Hi:

    Is there a deductible for medicare part B and if so how much is it and does it apply to both my wife and myself individually? All this medicare stuff is confusing. Is there one central place whom I can talk to where I can get advice about my specific needs,rather than contacting lots of companies individually? Thank you.

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  6. will medicare pay part of the pill advandament. I do have a supplament plan. It is cheaper then insulin that I can’t afford because my husband is on insulin in the donut hole in 3 months, we are insurance poor

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