Medicare drug plans are a critical part of your health care coverage. They can help you pay for your prescription drugs, which is important because Medicare doesn’t cover all prescription drugs. If you don’t have a Medicare drug plan, you may not be able to get the drugs you need. If you do have a Medicare drug plan, you may not be getting the best coverage or value for your money. This brief explains how Medicare drug plans work, what they cover, and how you can choose the right one for you.
Inspect the Plan’s drug formulary for your medications
Before choosing a Medicare drug plan, you should check the plan’s drug formulary. The drug formulary is a list of drugs that the plan covers. It tells you which drugs are covered and which drugs aren’t. You can find the drug formulary on your plan’s website or in the plan’s information booklet. If you don’t see the drug formulary on the plan’s website, call the plan’s customer service number. Ask if the plan has a drug formulary.
Know how your drugs are covered in the Coverage Gap
If you have a Medicare drug plan, you may not be getting the best coverage for your prescription drugs. Medicare doesn’t cover all prescription drugs. It does not cover all prescription drugs. It covers drugs for certain conditions, such as diabetes and high blood pressure, but conditions such as depression and arthritis are usually excluded. The Coverage Gap is the gap between what Medicare covers and what you pay for your prescription drugs.
Learn how the Plan works at your pharmacy
The plan that you choose will work with your pharmacy to get you the best coverage for your medications. If you don’t have a Medicare drug plan, you may not be able to get the medications you need. If you do have a Medicare drug plan, you may not be getting the best coverage or value for your money.
You may also consider a Medicare Supplement Insurance (Medigap) plan in conjunction with your prescription coverage and have this available through a provider network to help cover any additional expenses that you or a loved one might incur. With the recent growth in medical device sales, it is possible for insurance companies to cover a percentage of the cost of the devices they include on a list of covered medical devices, so you may be able to get the coverage you want without having to pay for the entire device. Be sure to contact a local licensed professional who is Certified with several Medicare Advantage and Drug Plans in order to get advice and specific recommendations that cater to your needs.