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How Do I Know If Part D is Right for Me?

Medicare Part D is a great option to look into if you’re enrolled in Medicare and want prescription drug coverage. This part of Medicare can be offered as an added benefit with a Medicare Advantage plan, or it can be a standalone plan with your Original Medicare coverage. Whichever, direction you choose to get this coverage, you will be getting much needed coverage for your prescriptions.

But, how exactly do you know if Part D is right for you?

When Do You Need Medicare Part D

If you need prescription drugs regularly, then you may need to enroll in Medicare Part D. Even if you do not need prescription drug coverage at the moment, it is better to enroll as soon as you become eligible to avoid any late enrollment penalties or gaps in coverage. 

Those who are at the end stage of a life-threatening condition and under hospice care may not need to register for Part D as long as they get coverage for the terminal condition under hospice care. However, for medications not related to the condition, the beneficiary will need a drug plan.

Overall, having this part of Medicare can be more beneficial than not, especially if you will need it in the future, but do keep in mind that having Part D is not mandatory. It is completely optional and up to you.

What If I Don’t Have Part D Drug Coverage

If you suddenly become ill and you are without prescription drug coverage, you may have to cover the expenses out-of-pocket. A Part D plan helps to avoid this. However, many may not know this, but Part B does cover a very limited amount of prescription drugs, but only under very specific circumstances. Some examples of what Part B covers include drugs that are used with durable medical equipment or vaccines.

Also, if you have creditable drug coverage through plans such as TRICARE, VA, or PACE, then you may not need to enroll in Medicare Part D just yet. You can even delay your enrollment without paying a late enrollment penalty if you choose to later enroll.  

At Cornerstone Senior Advisers, we will help you compare all your Medicare and Part D options so you can get the coverage that works for you. Contact us today at 316-260-331 for more information on how we can help.