Medicare Prescription Drug Coverage and Medigap insurance basics
Medicare Prescription Drug Coverage and Medigap insurance basics
Are you wondering if Medicare will cover all your prescription drug expenses?
Medicare offers prescription drug coverage for everyone enrolled in Medicare, as provided for under Medicare Part D. Part D was created in 2006 to provide better coverage specifically for prescription drugs. It covers certain medications and in many cases reduces their cost. However, Medicare Part D may not cover all of your drug costs, so you may wish to join a Medicare drug plan.
A Medigap plan that includes prescription drug coverage can protect you from drug costs not covered under Part D and can further help you save money with prescription drug discounts. Depending on which Medigap plan you select, you may find that Medicare Part D coverage is entirely optional.
Not all Medigap plans offer drug coverage and even then, you must weigh the cost of the plan against the benefits of the coverage. To avoid overspending, it's best to realistically estimate how much you will be spending on health care then select a Medigap plan that saves you money.
Heres how a Medigap plan works...
* Generally, you pay less for your prescriptions than you would without the plan
* You get a plan member card to use when you get your prescriptions filled
* You pay the copayment, co-insurance and deductible, if any
An experienced advisor can help you sort through your options and help you pick the best plan.
For more information about Medicare prescription drug coverage and Medigap plans, you may obtain a copy of Medigap Advisors 32 page booklet, "How to Get the Most from Your Medicare ...Stretching Your Dollars with Medigap", now available at www.MyMedigapReport.com It is being offered FREE for a limited time only.
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