California Medicare Part D
If you are turning 65 years old soon or if you have a qualifying illness or disability then you need to know as much as you can about Medicare and all of its many Parts so that you can make the most informed choice and obtain the correct coverage for your particular needs. California Medicare Part Dis one such part.
Medicare part D is a prescription drug plan that is offered by private health insurance companies and approved by the Medicare program.
Those who have looked over the traditional Medicare plans (Parts A and B) may have noticed that there was a glaring lack of needed prescription drug coverage. In 2006 the federal government finally noticed this lack and created the Medicare Part D to cover it. Unlike Medicare Parts A and B however, Part D is not automatic enrollment so you will need to opt into this important coverage.
Medicare Part D is one of the plans that have a changing rate so the best time to purchase it is during your open enrollment period at the same time that you enroll in your other Medicare coverage choice. If you do not enroll at the right time then you may have to pay a penalty amount as well as a higher premium for the coverage.
Enrolling in Medicare Part D really depends on how you will be receiving your Medicare coverage. Those who choose to stick with the original Medicare or opt for a medical savings account will need to buy this coverage from a private health insurance company. Those who choose to purchase a Medicare Part C or Medicare Advantage plan then you policy should automatically include prescription coverage.
One of the things that you will need to be aware of is the dreaded "donut hole" that Medicare Part D is known for. Basically under a Part D plan you will need to pay a premium, deductible and co-insurance payment for any medications until you reach a certain amount. Once you have spent a certain amount for your medications then you will need to pay 100% for your drugs until you reach your out of pocket maximum which is the other side of the "hole."
Medicare is working to fix this problem and the gap is slowly closing but until it does you should be aware of it.
Do you need help choosing which plan is right for your needs and budget? Our experts are standing by ready to answer your questions, get you the lowest quotes on California Medicare Part Dcoverage and help you make the best decision. Just give us a call on our toll free hotline or send us an email and we will be happy to explain everything to you.