Medicare Part D (Prescription Drug Coverage)
What is Medicare prescription drug coverage?
Medicare prescription drug coverage is insurance that covers both
brand-name and generic prescription drugs at participating pharmacies
in your area. Medicare prescription drug coverage provides protection
for people who have very high drug costs or from unexpected
prescription drug bills in the future.
Who can get Medicare prescription drug coverage?
Everyone with Medicare is eligible for this coverage, regardless of
income and resources, health status, or current prescription expenses.
When can I get Medicare prescription drug coverage?
You may sign up when you first become eligible for Medicare (three
months before the month you turn age 65 until three months after you
turn age 65). If you get Medicare due to a disability, you can join
from three months before to three months after your 25th month of cash
disability payments. If you don't sign up when you are first eligible,
you may pay a penalty. If you didn't join when you were first eligible,
your next opportunity to join will be from November 15 to
December 31.
How does Medicare prescription drug coverage work?
Your decision about Medicare prescription drug coverage depends on the
kind of health care coverage you have now. There are two ways to get
Medicare prescription drug coverage. You can join a Medicare
prescription drug plan or you can join a Medicare Advantage Plan or
other Medicare Health Plan that offers drug coverage.
Whatever plan you choose, Medicare drug coverage will help you by
covering brand-name and generic drugs at pharmacies that are convenient
for you.
Like other insurance, if you join, generally you will pay a monthly
premium, which varies by plan, and a yearly deductible. You will also
pay a part of the cost of your prescriptions, including a co-payment or
coinsurance. Costs will vary depending on which drug plan you choose.
Some plans may offer more coverage and additional drugs for a higher
monthly premium. If you have limited income and resources, and you
qualify for extra help, you may not have to pay a premium or
deductible. You can apply or get more information about the extra help
by calling Social Security at 1-800-772-1213 (TTY 1-800-325-0778) or by
visiting
www.socialsecurity.gov on the web.
Why should I get Medicare prescription drug coverage?
Medicare prescription drug coverage provides greater peace of mind by
protecting you from unexpected drug expenses. Even if you don't use a
lot of prescription drugs now, you should still consider joining. As we
age, most people need prescription drugs to stay healthy. For most
people, joining now means protection from unexpected prescription drug
bills in the future.
What if I have a limited income and resources?
There is extra help for people with limited income and resources. If
you qualify for extra help, Medicare will pay for almost all of your
prescription drug costs. You can apply or get more information about
the extra help by calling Social Security at 1-800-772-1213 (TTY
1-800-325-0778) or visiting
www.socialsecurity.gov on the web.
Find The Right Medicare Part D Plan for You
Medicare Part D Prescription Drug Plans available in Wisconsin