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Private Medicare – Medicare Part D 2018

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Medicare Part D 2018 Open Enrollment

Medicare Part D Open enrollment starts on October 15th to December 7th 2017.

Private Medicare – Medicare Part D is a federal program to subsidize the costs of prescription drugs for Medicare beneficiaries. It was enacted as part of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003 (MMA) and has been in effect from January 1, 2006.

People are eligible for prescription drug coverage under a Part D plan if they are otherwise entitled to benefits under Medicare Part A and/or enrolled in Medicare Part B. Beneficiaries can obtain the Part D drug benefits through 2 types of private plans:

  • Join a Prescription Drug Plan (PDP) for drug coverage only
  • Join a Medicare Advantage plan (MA) that covers medical services and prescription drugs (MA-PD).

The second type of plan is actually part of Medicare Part C and has several other differences relative to original Medicare. Almost two thirds of Medicare Part D beneficiaries are enrolled in a PDP option.

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Medicare Part D 2015 Open Enrollment | Medicare PartD | Medicare Gov Part D | Medicare Part D DonutIf you have a drug coverage plan now that is at least as good as, or better than Medicare’s basic drug benefit (creditable), and you do like it – you most likely should keep it. If you join a Medicare Part D plan, you may lose your creditable drug coverage and be unable to get it back if you want it later.

Not all drugs will be covered at the same level, giving participants incentives to choose certain drugs over others. This is often implemented via a system of tiered formularies in which lower-cost drugs are assigned to lower tiers and thus are easier to prescribe or cheaper.

You can switch into a new Medicare Part D plan for 2018 during the open enrollment period from October 15 to December 7 2017. Premium prices, deductibles, and covered medications can change each year, so it’s a good idea to reevaluate whether your current plan will still be a good fit for you in the coming year.

If you are enrolled in a plan now and happy with what you have, the best thing to do is call your plan or go online and see how the coverage that you have might be changing,” says Juliette Cubanski, a policy analyst at the Kaiser Family Foundation. “What you have this year is not going to be exactly the same next year.”

Medicare Part D 2018 Open Enrollment If you are enrolled in a plan now and happy with what you have, the best thing to do is call your plan or go online and see how the coverage that you have might be changing,” says Juliette Cubanski, a policy analyst at the Kaiser Family Foundation. “What you have this year is not going to be exactly the same next year.”

Learn more about Medicare Part D

 

Private Medicare – Medicare PartD | WPS Medicare Part D | Medicare Part D Donut | Medicare Part D 2018 Open Enrollment | Medicare Gov Part D

 

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