Signing up for Medicare Part D coverage may seem complicated; but if you understand the following tips, you can help simplify the process.
Medicare coverage for seniors lowers healthcare costs, but those who are eligible need to apply separately for prescription drug coverage. This coverage, known as Medicare Part D, focuses solely on reducing the cost of prescriptions. Understanding more about Medicare Part D pharmacy enrollment can help ensure that you get the coverage you need.
Do Not Miss the Deadline
When you sign up for Medicare Part D, you have a certain amount of time to do so without the risk of incurring a late enrollment penalty. In general, you can enroll in Part D three months before you turn 65 or three months after without having to pay the penalty. If you do receive this fine, you will most likely see it in the form of higher premiums for your medications.
You will need to pay the penalty if you miss the Part D deadline and if you have gone without prescription medication coverage for at least 63 days prior to your Medicare enrollment. You may become eligible for Medicare when you turn 65.
Keep in mind that you might also be able to enroll during a Special Enrollment Period under certain circumstances, such as losing drug coverage from your employer. There is also an annual open enrollment period from October 15 through December 7. If you sign up during the open enrollment period, your drug coverage will start on January 1.
Look Over Your Options
Medicare Part D is not just one plan. Rather, there are several plans for you to consider when you enroll. These plans differ in terms of the amount of coverage they offer, which is based on prescription types, number, and frequency of refills and other factors.
You can look over your options through the Medicare Prescription Drug Plan Finder to see what is available and find the most suitable plan in your area. This also helps you avoid scams, since you will be choosing a plan offered by a private insurance company that Medicare has approved.
Know How to Enroll
There are different ways for you to sign up for a Part D plan. You can contact Medicare by phone at 800-633-4227 to enroll, or sign up through the Medicare website at www.medicare.gov. You can also enroll at our pharmacy in Benton, AR.
Our staff can provide you with assistance in enrolling for a Part D plan so that you sign up on time and get the coverage you need. When you enroll, you will need to provide certain information, including your primary address, whether or not you have had other drug coverage and the method of payment for your premiums. After applying, you should know within ten calendar days if you have been accepted or denied. The majority of Part D applications are accepted.
If you need help enrolling in a Medicare Part D plan, please contact our community pharmacy in Benton, AR at 501-392-5470.