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Medicare Part
D 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, 2008 to December 31, 2008.
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 copayment 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.
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