Providing Senior Medicare Information
Medicare Part B: Medical Insurance
You pay a Part B premium monthly if you have Part B. Most people will pay the standard amount. Additionally, Social Security will get in touch with people who have to pay more based on their income.
If you don’t sign up for Part B when you are first eligible, there is a chance you might pay a late enrollment penalty. Some people automatically get Part B, but you can still learn how and when to sign up.
Part B helps cover the following types of services. If you want to find out the specifics, please check Your Medicare Coverage.
- Medically-Necessary Services – Services or supplies that are needed to diagnose or treat your medical condition and meet accepted standards of medical practice (i.e. doctors’ services, outpatient care, home health services, and more)
- Preventive Services - Healthcare to prevent illness or detect it at an early stage
Are you unsure of your current Medicare plan? Don’t fret; you can check your Medicare card to find out if you have Part B.
Medicare Part D: Prescription Drug Coverage
This coverage is insurance run by an approved insurance company or other private company. There are two ways to get Part D:
- Medicare Prescription Drug Plans – These plans add drug coverage to Original Medicare, selected Medicare Cost Plans, selected Medicare Private Fee-for-Service (PFFS) Plans, and Medicare Medical Savings Account (MSA) Plans.
- Medicare Advantage Plans - These are other Medicare health plans that offer Medicare prescription drug coverage. Through these plans, you get all of your Part A, B, and D. Also, Medicare Advantage Plans with prescription drug coverage are sometimes called "MA-PDs."
For those who initially decided to not join a Medicare drug plan and do not have other creditable prescription drug coverage, you will likely pay a late enrollment penalty.
How Much Does Medicare Prescription Drug Coverage Cost?
Each plan varies in cost and drug coverage, but you can find the right one using the Medicare Plan Finder. Your monthly premium can also be higher depending on your income, and it may include Part D coverage you get from a Medicare Prescription Drug Plan or a Medicare Advantage Plan or Medicare Cost Plan that includes Medicare prescription drug coverage. To learn more, visit the Social Security’s website.
Many people also qualify to get Extra Help paying their Medicare prescription drug costs but are not aware. Most who qualify and join a drug plan will get 95% of their costs covered. So make sure that you save every penny with Extra Help and other programs—such as the Medicare Savings Programs.
How Do I Get Medicare Prescription Drug Coverage?
Choosing a Plan
You must have Part A and B to join a Medicare Prescription Drug Plan or a Medicare Advantage Plan. You must also live in the service area of the Medicare drug plan you want to join.
You also may not be able to drop your employer or union drug coverage without also dropping your employer or union health (doctor and hospital) coverage. Additionally, if you drop coverage for yourself, you may also have to drop coverage for your spouse and dependents.
Once you choose a Medicare drug plan, you may be able to join by completing a paper application, calling the plan, or enrolling on through the website of Medicare Plan Finder. You can also enroll by calling 1-800-MEDICARE (1-800-633-4227).
Note: Medicare drug plans aren't allowed to call you to enroll you in a plan. Call 1-800-MEDICARE to report a plan that does this.