Medicare Supplement Plan (Medigap) Plans and prescription drugs Pt 1
As you may know, under Original Medicare policy, Part A and B, there is only few prescription drug coverage. The Part A can treat the drugs you get as part of your inpatient hospital treatment. Part B may refer to some medications that are administered on an outpatient basis. Medicare supplemental plans generally do not provide coverage for prescription drugs, however, they may cover part of the cost of Original Medicare.
What does a Medicare supplemental plan cover?
If you are currently enrolled in Original Medicare, you may have heard that Medicare supplemental plans can support certain costs. Medicare supplemental insurance is intended to supplement Original Medicare. Original Medicare provides comprehensive medical coverage, especially if you have Medicare Part A and Part B. It does not cover everything.
The 2019 Medicare supplement plans are offeredby private insurance companies and can help you support costs that are notcovered by Original Medicare. Medicare Supplement plans (a.k.a. Medigap) fillgaps in the original Medicare coverage. The “gaps” refer to the costsfor which you are responsible, such as the deductible, co insurance, and copayments, which exists under Original Medicare. Some supplemental Medicareplans may offer additional innovative benefits (e.g. discounts on eyeglassesand contact lenses or discounts at gyms). However, not all plans have thesebenefits, so it is a good idea to check what plans are available in your area.
You can request a Medicare supplement plan with any insurance company licensed in your state to sell one and offer plans available in your area.
How do I get Medicare insurance for prescription drugs?
The government does not allow Medicare supplemental policies sold after 1st of January, 2006 to contain prescription drug protection. If you want Medicare (Part D) prescription drug coverage, there are 2 options:
If you have Original Medicare plan, you can sign up for a separate Medicare Prescription Drug Policy (PDP). The Medicare Prescription Drug Plans are designed to work with Original Medicare and are available through private insurance companies with Medicare authorization and operating in the country where you reside. A prescription drug policy from Medicare can help you with certain prescription drug costs that are not covered by Part A and B, even if you are still responsible for premiums, co payments, and co insurance costs.
To enroll in a prescription drug plan for Medicare, you must enroll for Part A and/or Part B of Medicare policy and be in the service network of a Medicare prescription drug policy. You must pay your monthly premium for Part B in addition to your monthly premium for the Medicare Prescription Drug Plan (except your premiums are insured, as you will get extra assistance). Medicare prescription drug plans include several prescription drugs. You can also vary the cost sharing (the amount you pay for the prescription) and the coverage premiums. It is a good idea to compare Medicare prescription drug plans at your location to find the best plan options for you.
You cannot simultaneously receive a Medicare Prescription Drug Policy (bought before January 2006) and a Medicare Prescription Drug Plan.