Medicare FAQs – Does Medicare cover prescriptions?
Angus Lake Healthcare proudly helps a variety of communities with their prescription needs – from assisted living homes to in-home living, to correctional facilities, to group homes, and more. Many of our partners have patients who participate in Medicare programs that are offered. Let us answer a few frequently asked questions about Medicare prescription drug coverage:
Does Medicare cover prescriptions?
Yes, Medicare covers prescriptions. But, it’s important to know that there are four Medicare plans from which to choose, and each plan offers different coverage regarding prescriptions and medical care. Check out the four plans and their details:
– Part A – hospital stays, hospice care, some medications
– Part B – doctor visits, certain vaccines, some medications
– Part C – beneficiary medical care, some medications
– Part D – most prescription drugs
Which Medicare plan is right for me?
It depends on what needs you have now and in the future. It’s important to know that to enroll in Part D, you must also be enrolled in Part A and/or Part B. Why enroll in two or more? Because the Part D plan covers the most amount of prescription drugs. However, there is an annual spending limit. Ways you can avoid hitting that annual spending limit before your policy renews include:
– Switch to generic medication instead of name brand.
– Apply for the Extra Help program facilitated by Medicare and Social Security to help those who have a limited income.
– Choose a Medicare plan that offers additional gap coverage. This will help cover the cost of medication if you reach your annual spending limit early.
Who qualifies for Medicare prescription drug coverage?
If you qualify for Medicare, you can pursue Medicare prescription drug coverage. Be mindful of the different rules to help avoid penalties! You can pursue Medicare prescription drug coverage if:
– You’re turning or have turned 65-years-old.
– You sign up during the Initial Enrollment Period (3 months before your birthday month (turning 65-years-old), extending 3 months after your birthday month).
– You sign up for Part B during the General Enrollment Period. You’re eligible to sign up for a Medicare drug plan between April 1 and June 30.
– You sign up for the Medicare drug plan during the General Enrollment Period which is between October 15 and December 7, annually.
– You are eligible for the Extra Help program. Then, you can sign up for a Medicare drug plan any time of the year.
– You are eligible for Special Enrollment Periods which apply to those who have experienced certain life changes like losing insurance coverage.
Angus Lake Healthcare is your hometown, professional pharmaceutical company.
It is our joy to work with a variety of industries to fulfill pharmaceutical needs. We gladly work with all insurance companies, including Medicare, to facilitate a streamlined experience. If you’re searching for an independent, closed-door pharmacy in Middle Georgia, we would love to partner with you. Call us today: 478-233-1828