Medicare Part D prescription drug coverage likely will lower your prescription costs now and in the future. Any person who is entitled to Medicare Part A or enrolled under Medicare Part B is qualified to apply for Medicare Part D prescription drug coverage. In addition, if you think you can't afford Part D coverage, you may qualify for Extra Help in paying your Part D premiums, annual deductibles and co-payments.
Eligibility for Part D
You will not be enrolled automatically in a Part D drug plan unless you are covered by both Medicare and Medicaid (dual eligible) or you are notified by Social Security that you are eligible for Extra Help with drug costs. Otherwise, Part D enrollment is voluntary. You must enroll in Medicare before you can apply for Part D coverage, but you don't need to have both Part A and Part B coverage to sign up. You are first eligible to register for a Part D plan three months before your 65th birthday. If you don't sign up within three months after your 65th birthday, you may have to pay a penalty to get coverage later.
Eligibility Exception
An incarcerated Medicare recipient cannot participate in a Part D prescription drug plan.
Finding a Plan
Private companies provide Part D coverage, and you must choose a plan that operates in the area where you live. If you spend long periods of time living in two or more areas, consider enrolling in a national plan---which could be more costly---or choosing a plan that is common to each ZIP code in which you live. Make sure you can fill your prescriptions under Part D in both states. To find a plan that best suits your needs and finances, there is a Prescription Drug Plan Finder on the Medicare prescription drug plan home page (see Resources).
Other Qualified Drug Coverage
If you are already getting drug benefits through another creditable plan, you cannot enroll in Part D without leaving your current plan. Creditable coverage generally is defined as coverage at least as good as Medicare Part D. Your plan administrator must send you written notification each year to verify that your plan is creditable. Examples of creditable plans include employer- and union-sponsored plans; military retirees and veterans benefits; and Medicare Advantage plans.
Extra Help
If you believe you can't afford Part D coverage, you may qualify for Extra Help (also called Low Income Subsidy), which means Social Security will pay part of your premium and drug costs. You automatically will be enrolled in Extra Help if you get both Medicare and Medicaid or if you belong to a MedicareSavings Program or get Supplemental Security Income. However, you still could qualify for Extra Help if you meet several financial conditions. For 2009, your annual income could be no more than $16,245 for an individual and $21,855 for a married couple, and your "resources"---loosely defined as savings and other assets but not car and home---could be no more than $12,510 for a single person and $25,010 for a couple. Even with higher annual income or additional resources, you might still qualify if you support other family members living in your home (or you live in Alaska or Hawaii). You can apply for Extra Help either online (see Resources) or by calling your local Social Security office and requesting an application.
Tags: Extra Help, Medicare Part, Part coverage, drug plan, Part prescription
