Advantage of Medicare vs. Medicare Part D

Advantage of Medicare vs. Medicare Part D

If you have been informed about Medicare, you will know that Medicare covers some of your medical care and names them in alphabetical order. Part A of Medicare is known as health insurance, while Medicare Part B is known as Medicare insurance. Medicare Part D is also known as a controlled drug plan. Medicare Part C is a way to group the benefits of Medicare A, B and D into one plan. Medicare Part D, usually for prescribed drugs, is added to Medicare Advantage plans. According to the Trust of the Kaiser Family, approximately 88% of the Medicare Advantage plans in 2017 provided coverage for prescribed medications.

What is the Medicare benefit?

This is Medicare insurance provided by private insurance companies that sign up for Medicare. Now, Medicare Part C plans must offer all the resources offered by the Original (parts A and B). In addition to providing prescribed medications, Medicare Advantage plans generally offer additional benefits, such as:

What is Medicare Part D?

Medicare Part D is about prescribed medications. You can buy Medicare Part D through a single plan or a Medicare Advantage plan. If your health insurance plan includes drug coverage, you will not be eligible for a separate Medicare Part D plan at the same time. Independent prescription plans for Part D drugs are usually combined with conventional Medicare insurance. All Medicare Part D insurance is provided by private insurance companies instead of the federal government. The Medicare government program, Original Medicare, does not provide most of the medications you take at home. Generally, you will receive the unique benefits of prescribed Medicare medications only if you receive them as an inpatient or as an injection in a doctor’s office. There may be other circumstances in which Medicare Insurance pays for prescribed drugs. Without Medicare Part D, you may have to pay most of the prescribed drugs out of your pocket.

How does Medicare Advantage with the Medicare Part D plan provide my prescribed medications?

Prescribed drugs covered by the Medicare Advantage plan are listed on the plan’s formulary or on the list of insured drugs. If a required prescription medication is not included in the Medicare Advantage form, you can purchase insurance or change your plans¬† during the open enrollment period, October 15 through December 7 of each year. Medicare Advantage plans generally define insured drugs at levels that can be used to bill several prescribed drugs. Tier 2 drugs generally cost more than Tier 1 prescriptions, etc.

For example, for a drug delivery within 30 days, you can pay for the following:

  • Level 1 (generic preferential) US $ 10.00 co-payment
  • Level 2 (generic): US $ 17.50
  • Level 3 (preferred brand): co-payment of US $ 45.00
  • Level 4 (non-preferred drug): co-payment of US $ 95.00
  • Coverage of level 5 insurance (special level) of 33%
  • Level 6 (selective care medications) co-payment of US $ 10.00

Do you plan to find a Medicare Advantage plan near you that processes Medicare Part D for prescribed drugs? You just have to enter the zip code on a Medicare website to start the search.