Part D of Medicare covers prescription drugs. Insurance companies contract with the Center for Medicaid and Medicare Services (“CMS”) to administer prescription drug plans and services. There is a late enrollment fee imposed if a Medicare beneficiary does not enroll when first eligible. However, a person with prior prescription drug coverage in place through another source can provide a “letter of creditable coverage” verifying the prior coverage is at least equal to the CMS minimum basic standard Part D plan. Otherwise, there will be a lifetime late enrollment penalty assessed on future Part D premiums. Visit www.medicare.gov for details, or call 1-800-MEDICARE (1-800-633-4227).
Here is a suggested procedure to obtain Part D Rx coverage. Visit medicare.gov to review Part D coverage and eligibility requirements.
1. Gather your prescription medications and note the dosage, name, and if generic or brand name.
2. Use the Part D plan finder at medicare.gov to search for plans in your zip code. Click on the pills and bottle link above.
3. When prompted, enter the medication information requested. The tool has an auto complete feature to suggest drug names.
4. Enter additional information requested if you are registered on the site. Or, register as a user, as an option.
5. The search tool will present a list of companies and plans offered in your geographical area. A total annual drug cost will be included for each plan. Note if the plan has coverage in the gap and if the deductible applies. A plan comparison tool is available.
Although company contact information is given, please use my services to enroll in Anthem Blue Cross, Blue Shield of California, or Silverscript (CVS Caremark) Rx Part D plans. Online enrollment is available for some plans via my website. Click on the company logos presented below. Or, contact me for additional assistance, phone 877-487-8376. Part D coverage is virtually guaranteed issue with no health condition limitations, except for End Stage Renal Disease (ESRD). You can change plans during the Annual Enrollment Period (AEP) each year, or, if a qualifying event triggers a Special Enrollment Period (SEP). Insurance companies use formularies, or lists of drugs, in as many as 5 tiers to control medication costs and usage. Insurance companies may change formularies and tier levels of coverage within the rules of CMS. Many insurance companies partner with retail drug providers to reduce drug costs and improve delivery services. These co-branded arrangements can be very attractive to improve your Part D plan coverage and reduce drug costs. Your Medigap supplement policy combined with a Part D Rx plan will provide cost effective health coverage, an enhanced benefit package, an improved lifestyle and meet your Prescription drug needs. Medigap and Part D policies are stand-alone plans and can be obtained from different companies; they may be purchased from the same company or 2 different companies. Bob Coleman will help you enroll in a plan to meet your needs among the companies he represents.