As of January 1, 2006, everyone on Medicare was given access to prescription drug coverage regardless of what drugs they used, their health status, or their income. This coverage was created due to the high cost of prescription drugs that people on Medicare sometimes need to take. Medicare Part D was originally developed to help people be able to afford the necessary prescription drugs that they need to take to remain healthy and have a good quality of life.
If a Medicare recipient has health issues that require them to take prescription medications, Medicare Part D will save them money. Medicare Part D, when added to the basic Medicare program, will save the recipient fifty per cent on their prescription medications. Medicare Part D also will save money for those who have a Medigap supplement, as well. If a Medicare recipient takes several prescription medications, or even one expensive prescription medication, it may be well worth the cost of the supplement to purchase Medicare Part D. On the other hand, people with little or no prescription medications may not need Medicare Part D. A person considering Medicare Part D needs to sign up for this supplement when they sign up for Medicare.
There are two ways to get prescription drug coverage while on Medicare. The person wanting prescription coverage can add the coverage on to their traditional Medicare plan, or they can get drug coverage through a Medicare Advantage plan. A Medicare Advantage plan is like an HMO or PPO that provides coverage through a network of doctors and hospitals at a much lower cost.
Compare the two policies and choose the one that works best for your situation. Ask your Medicare provider for more information and make the choice that works best for your situation.