Because it is optional to sign up for Medicare prescription drugs coverage, some senior citizens cannot choose a Medicare drug plan. But what will happen if over time you ask for extra prescription drugs?
Is it true that Original Medicare does not have insurance for prescription drugs?
Medicare Part A (or Hospital Insurance) and Part B (or Medicare) are part of the original Medicare system and can only insure certain prescription medications in certain cases. For example, if you are hospitalized, Part A will usually provide treatment-related medications. Part B generally deals with medically prescribed medications given to you in a clinic, doctor’s office or other outpatient setting.
If you are taking prescription drugs at home, you may want to take out a Medicare plan. Keep reading to find out more.
How would you get a Medicare prescription plan?
You can choose to skip drug insurance because, according to Medicare, this option is optional. Only you can choose if this option is right for you. However, enrolling in the Medicare drug insurance plan is usually straightforward.
Medicare prescription plans are available in Part D of Medicare from the private insurance companies that are part of the Medicare plan. You must register for Medicare Part A and / or Part B to obtain a separate Plan for Prescription Drug Plan D and to live in the Service Area of the Plan.
There is another type of Medicare prescription drug plan and it is a prescription drug plan for Medicare Advantage. There are several types of Medicare Advantage plans; and all are available from private insurance companies licensed by Medicare. As a general rule, Medicare benefits can be obtained for parts A and B through a Medicare Advantage plan and most plans include drug coverage. Some fonts also offer additional benefits such as routine hearing.
If you enroll in a Medicare Advantage plan, you are still participating in the Medicare program and you must continue to pay the Part B premium and the premium that the plan can charge.
What happens if I do not want to register for a drug insurance plan?
If you do not choose prescription drugs, it’s up to you. However, you should be aware that if you wish to purchase a Medicare drug plan, you may need a late registration period for Part D.
If I do not have a Medicare drug plan, does the late admission period for Part D apply to me?
If you chose to skip Medicare prescription drugs when you first approved and then chose a Medicare prescription plan, you may penalize Part D for late application.
If you have been away from credible prescription drugs for more than 63 consecutive days since you first enrolled in Medicare, it could be your ticket when you sign up for a Medicare drug plan.
Medicare considers insurance to be “creditable”; this mean that it pays as much as standard Medicare drugs at least on average.