Surprise! New annuitants of Medicare should recognize they’ll need a Part D Medicare Plan to cover some medical conditions.
The cost of drugs has skyrocketed and Medicare recipients should be cognizant of the coverage for which they are eligible or not. And even though all Medicare men and women are eligible to receive prescription drug coverage via Medicare Plan Part D, those who do not join and purchase drug coverage from an outside approved source will be stuck without drug coverage.
Any Medicare approved private insurance company on the list will be happy to talk with you about drug plans that will fit your particular needs. Once you make a decision, this supplemental or Medigap insurance policy will most likely plug any gaps not covered by any other plan you may have or that Plans A and B do not cover. Remember, though, these drug coverage policies are not free, so it might be best not to take the first offer, and do a bit of online shopping to compare plans and prices.
All Medicare Part D programs are optional. If Medicare A & B fits your needs, fine. Since Medicare supplemental or Medigap insurance policies are sold by private companies, Medicare only investigates the substance of the companies, then if they pass muster, they’re put on the approved list for you to peruse and decide for yourself.
The good news is the insurance company you have chosen will handle all of your medical claims; Medicare stays out of processing. To stay informed on all Part D Plans, always ask questions.