What is Medicare Part D?
Medicare Part D covers the cost of your regular outpatient prescription drugs and is available for everyone enrolled in traditional Medicare (Medicare Part A, Part B, or both). Medicare Part D is offered through private health insurance plans and included in some Medicare Advantage plans. A Part D plan is required if you choose to enroll in a Supplement.
Before enrolling in Part D it is important to understand Part C.
Many Medicare Part C, or Medicare Advantage Plans also include prescription drug coverage.
Contact MK for more information on building the ideal Medicare plan for you.
What is included in Medicare Part D?
MK factors prescription medication into the selection of your plan. Let MK know if changes in your health cause a change in this or any of your Medicare coverage needs.
Medicare Part D cost variation comes from the four stages of coverage included in most Part D plans.
These stages include Deductible, Initial Coverage, Coverage Gap, and Catastrophic stage.
Deductible
Initial Coverage
Coverage Gap
Catastrophic
Deductibles and limits reset every year. Contact MK annually to review your plan!
For questions or concerns about your Medicare Part D prescription plans or cost, get help now.
Eligibility for Medicare Part D
In order to be eligible for Medicare Part D you must be enrolled in Medicare Part A, Part B, or both. Medicare Part D (prescription drug) coverage is only available through private plans and may be included in some Advantage plans.
Call MK for help finding a Part D plan.
Enrollment Period for Medicare Part D
Your Initial Enrollment Period (IEP) for Medicare Part D is the seven-month period around your 65th birthday including 3 months before, the month of, and 3 months following your birthdate. Failing to enroll during your IEP may result in a late enrollment penalty.
Special Enrollment Period
You can also enroll or make changes to your Part D coverage during Open Enrollment between October 15 and December 7. Changes made during this Open Enrollment period will take effect Jan 1 of the following year.
Medicare Part D Penalty
Late Medicare Part D enrollment may incur a penalty. The cost of the penalty will depend on how long you were without Part D or Medicare Advantage prescription drug coverage.
Unsure if you will have a Part D penalty? Call MK with your questions and concerns.
Cost of Medicare Part D
Cost for your Medicare Part D coverage varies from plan to plan.
Contact MK to find the ideal Medicare Part D or Medicare Advantage plan for you.
How to Enroll in Medicare Part D
MK Plans is available to help you find the perfect Medicare Advantage or Part D prescription drug plan to fit your lifestyle and medical needs. If you are nearing the age for Medicare eligibility, contact MK now so you don’t face any gaps in coverage or late penalties.
Secure your peace of mind in selecting Medicare with a free consultation.
MK will help you navigate the options, offering personalized insights and a reassuring hand to guide you through the process.