Medicare Supplement and Prescription Drugs 2023
Areas We Cover:
Fresno, Madera, Tulare, Kings, Kern, Mariposa, Merced Counties
Medicare Supplement plans, also known as Medigap, do not cover prescription drugs. However, there are two ways you can get prescription drug coverage with Medicare: through a standalone Medicare Part D plan or through a Medicare Advantage plan that includes prescription drug coverage.
A Medicare Part D plan is a standalone prescription drug plan that is offered by private insurance companies. These plans are available to anyone who is enrolled in Medicare Parts A and B, and offer coverage for a wide range of prescription drugs. You will need to pay a monthly premium for the plan, as well as any deductibles, copayments, or coinsurance that apply.
If you prefer to get all of your Medicare coverage through a single plan, you may want to consider a Medicare Advantage plan with prescription drug coverage. These plans, also offered by private insurance companies, are an alternative to Original Medicare and offer the same coverage as Parts A and B, as well as additional benefits such as prescription drug coverage, vision, dental, and hearing services. The cost of the plan will depend on the specific plan you choose, and you may have to use network providers in order to receive coverage.
It is important to note that if you have a Medigap plan and enroll in a Medicare Advantage plan, you will need to disenroll from your Medigap plan as it will not work with Medicare Advantage. However, you may be able to enroll in a different Medigap plan in the future if you disenroll from your Medicare Advantage plan during the Annual Enrollment Period (AEP).
It is important to review your current prescription drug needs and choose a plan that provides the most appropriate coverage for you. Make sure to check the formulary of the plan you are considering to ensure that the prescription drugs you need are covered, and understand any restrictions or requirements, such as prior authorization or step therapy.
In conclusion, while Medicare Supplement plans do not cover prescription drugs, you can obtain coverage through a standalone Medicare Part D plan or a Medicare Advantage plan with prescription drug coverage. It is important to understand the costs and benefits of each option, as well as any restrictions or requirements that may apply, in order to choose the most appropriate plan for your needs.
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Article By Rolando Arellano J.D. – Rolando is a graduate of law school, did a postdoctoral at Harvard Law School, also has taught at the University of San Francisco, and now dedicates himself to helping people navigate the complexities of Medicare and making sure they get the correct plan so our seniors get the health services they need in their gold ages
Hello, my name is Rolando Arellano and I am the President of AYA and Associates who are the creator of YOURMEDICARE.
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