Prescription Drug Coverage (Part D)

What is Medicare Part D?

Participation in a prescription drug plan is completely optional but highly recommended. With the soaring cost of medical care, you’ll want to explore ways to get your drug costs covered, even if you don’t take any prescriptions today.

Here’s what you need to know:

How Do I Buy Medicare Part D?

To be eligible for Medicare Part D, you must be enrolled in Medicare Parts A and B. If you don’t enroll in Part D when you are first eligible and go without creditable prescription drug coverage for 63 days in a row or more (no coverage or coverage below Medicare’s standards), you could face a late-enrollment penalty that equals 1% of the “national base beneficiary premium” times the number of uncovered months if you sign up for coverage later. This penalty will be added to your monthly Part D premium permanently. This is why it’s important to enroll, regardless of whether or not you are taking prescription drugs today.

There are two ways to buy Part D coverage: Enroll in a Medicare Advantage plan that includes this benefit, or purchase a standalone Medicare Prescription Drug Plan.

For a complete list of available plans please contact 1-800- MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.

Part D through Medicare Advantage

Medicare Advantage plans usually include prescription drug coverage in their bundle of benefits. Beware: some Medicare Advantage Plan HMO or PPO plans do not include prescription drug coverage, and it’s important to verify if yours does. If you were to purchase a separate drug plan when you are currently enrolled in a plan that offers prescription drug coverage, you would be disenrolled from your Medicare Advantage Plan and returned to Original Medicare.

You can only join a separate Medicare drug plan without losing your current health Medicare Advantage coverage when you’re in a:

Private Fee-for-Service
Medical Savings Account Plan
Cost Plan
Certain employer-sponsored Medicare health plans

Standalone Part D Plans

Important Note: The information below only applies to standalone plans.

If you select a Medicare Supplement Insurance plan and want prescription drug coverage, you must purchase a Medicare Part D plan separately and pay for it separately.

Remember, not all Part D plans are created equal. Each plan varies in terms of cost, drugs covered, special rules and so on. How do you decide which one is best?

Here are 5 steps to help you select the right plan for you:

Make your list.Write down all of your current prescription drugs, including dosage, quantity (30-day supply, 60-day supply, etc.), and frequency.

Take your list to the Medicare Plan Finder at Medicare.gov. We can show you which Part D drug plans are available in your area and which of those plans cover your drugs. (It’s a good idea to check in each year to make sure that your current Part D plan is still the best plan for you.)

Know your share. The amount you pay for prescription drugs can fluctuate based on whether your drug is generic or name brand. Part D plans usually spell out this information in their plan details.

Compare cost. Once you find plans that cover your prescriptions, compare your monthly premium plus any out-of-pocket costs for the medications you use. A Part D plan may cover your prescriptions, but it may cost you more than other plans depending on which pricing tier the plan places your prescriptions, known as a drug formulary. It’s important to understand your total cost, not just the premium or your share of the drug costs.

Check the plan’s ratings. Every year, Medicare evaluates plans based on a 5-star rating system. Medicare gives each Part D plan a star rating from 1 (poor) to 5 (excellent) based on customer service, customer experience, and complaints, performance, drug safety, and pricing accuracy. These ratings can help you know how good a job the plan is doing in providing coverage. Keep in mind new plans might not have a rating.

Who can apply for Medicare Part D?

There are two main eligibility requirements to enroll in Medicare Part D:

You must be enrolled in Medicare Part A and/or Part B, and
You must live in the service area of a Medicare plan that includes prescription drug

How do I apply?

Because prescription drug coverage is included in Medicare Advantage, there’s no need to apply. However, if you forego Medicare Advantage and opt for a Medicare Supplement plan, or only stick with Original Medicare, it is highly recommended to—at minimum—discuss your options with one of our experts.

Give us a call so we can go through your options and find the right plan for you.

When can I apply?

There are four enrollment or election periods you should know about:

Initial Enrollment Period for Part D (IEP for Part D): This is when you’re first eligible for Medicare prescription drug coverage. It usually overlaps with the period that you’re first eligible for Medicare, starting three months before you turn 65, including your birthday month, and ending three months after your birthday month for a total of seven months. If you are eligible for Medicare as a result of a disability, this period starts three months before your 25th month of disability benefits from Social Security or the Railroad Retirement Board and lasts for seven months.

Annual Election Period (October 15 to December 7): This is your yearly opportunity to make changes to your Medicare Part D coverage or to sign up for it if you don’t already have it. During this time, you can enroll in a Medicare Prescription Drug Plan or Medicare Advantage Prescription Drug plan for the first time, switch Medicare plans, or disenroll from your plan.

Medicare Advantage Open Enrollment Period (January 1 to March 31): If you are enrolled in Medicare Part C and change your mind, you can use this period to disenroll from your Medicare Advantage plan and return to Original Medicare. You can also use this time to enroll in a Medicare Prescription Drug Plan. This window is not to be used for making other changes to your Medicare Part D coverage.

Special Election Period: Outside of the above periods, you can only enroll in Medicare Part D or make changes to your coverage if you qualify for a Special Election Period due to special situations such as: moving outside of your Medicare plan’s service area, losing your Medicaid eligibility, or moving into a nursing home.

Who can purchase Medicare Supplement?

To purchase a Medicare Supplement Insurance plan, you:

must have Medicare Part A and Medicare Part B
cannot be turned down for a pre-existing condition

The best time to buy a Supplement Insurance Plan is during your initial six-month Open Enrollment Period. During this period, you can buy any Medicare Supplement plan sold in your state, even if you have health problems. This period automatically starts the month you turn 65 and enrolled in Medicare Part B (Medical Insurance). After this enrollment period, you may not be able to buy a Supplement plan. And if you are able to purchase a policy, it may cost more due to past or present health problems.

Our team of Medicare specialists is ready to answer all your questions.

Call us today at
844-395-4370

TTY users may dial 711
Licensed insurance agents are available
9 a.m. to 5 p.m. CST, Monday – Friday

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* We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1–800– MEDICARE to get information on all of your options.

By calling BetterCare at (844) 395-4370 TTY 711, you will be directed to a Licensed Agent who can answer your questions and provide information about Medicare Advantage, Part D or Medicare Supplement Insurance plans. Neither BetterCare Insurance Services nor its agents are connected with or endorsed by the U.S. government or the federal Medicare program.

BetterCare Insurance Services LLC is a licensed insurance agency doing business as BCI Insurance Services in California.

BetterCare is a for-profit insurance agency.

Your call will be directed to a licensed insurance agent who can provide more information about your Medicare insurance plan options.

Medicare supplement plans are not connected with or endorsed by the U.S. Government or the Federal Medicare program.

BetterCare is not connected with or endorsed by the United States Government, or the federal Medicare program. BetterCare does not discriminate based on race, color, national origin, age, disability, or sex. The Centers for Medicare & Medicaid Services (CMS) has neither reviewed nor endorsed this information.

Prescription Drug Coverage (Part D)

What is Medicare Part D?

How Do I Buy Medicare Part D?

Part D through Medicare Advantage

Standalone Part D Plans

Here are 5 steps to help you select the right plan for you:

Who can apply for Medicare Part D?

How do I apply?

When can I apply?

Who can purchase Medicare Supplement?

Our team of Medicare specialists is ready to answer all your questions.

Call us today at
844-395-4370

Learn About Medicare

About Us

Contact

Prescription Drug Coverage (Part D)

What is Medicare Part D?

How Do I Buy Medicare Part D?

Part D through Medicare Advantage

Standalone Part D Plans

Here are 5 steps to help you select the right plan for you:

Who can apply for Medicare Part D?

How do I apply?

When can I apply?

Who can purchase Medicare Supplement?

Our team of Medicare specialists is ready to answer all your questions.

Call us today at844-395-4370

Learn About Medicare

About Us

Contact

Call us today at
844-395-4370